India

The US Treasury Department explained the decision by the need to maintain supplies on the global market amid disruptions due to the crisis around the Strait of Hormuz.

India has returned to buying Russian oil after the outbreak of war in the Middle East.

India has temporarily extended the permits of four Russian companies to insure tankers calling at its ports.

The Indian Coast Guard has seized three “shadow fleet” vessels on suspicion of being involved in oil smuggling.

The total volume of Russian oil in floating storage is estimated at about 140 million barrels.

India’s Reliance Industries Ltd is set to resume Russian oil purchases in February and March after a month-long hiatus.

In early January, about 2.2 million barrels of Russian oil could arrive at Reliance Industries’ Jamnagar refinery in India.

The regulatory filter was introduced as India seeks to push through a broader trade deal with the United States. India expects to sharply reduce its imports of Russian oil this month to about 800,000 barrels per day. This is due to increased inspections at ports and banks to comply with Western restrictions, Bloomberg reports. In…

Strengthening Western sanctions are forcing Indian refiners to reconsider their dependence on Russian raw materials.

Off the coast of India, two sanctioned vessels were transshipping Russian oil using the ship-to-ship (STS) method.