India halts trade with US-sanctioned Russian companies and tankers, government source says
- India's refiners have ceased trade with U.S.-sanctioned Russian companies and tankers, according to a government source on Monday.
- The U.S. imposed severe sanctions on Russian oil companies and vessels last week, targeting revenue for the war in Ukraine.
- India expects no disruption in Russian crude supplies during the two-month wind-down period until March 12.
- The Kremlin warned that U.S. sanctions could destabilize global markets and pledged to minimize their impact.
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Two superpowers, China and India, refuse to accept Russian oil ships as a result of new US sanctions
The new U.S. sanctions forced China and India to host Russian oil tankers now, Bloomberg reports, although some ships were even in mainland waters and preparing to unload.
The sanctions concern about 160 tankers and key market players, including insurance companies, according to the US Office of Foreign Assets Control (OFAC).
India to Block US-Sanctioned Russian Oil Tankers from Entering Ports
India plans to block oil tankers sanctioned by the United States for transporting Russian crude, following the US announcement of its most stringent sanctions yet, targeting over 160 tankers, traders, and insurers involved in Russian oil exports, according to Bloomberg on January 13. The sanctions have sent oil prices soaring above $80 per barrel. A senior Indian official, speaking anonymously due to the sensitivity of the matter, stated that ve…
India to stop oil tankers hit by new US sanctions for carrying Russian cargo - BloombergIndia plans to ban the unloading of oil tankers hit by US sanctions for carrying Russian cargo. The country will seek alternative oil suppliers from the Middle East and elsewhere.
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