Sanctions Redirect Russian Oil Vessels: Impact on India
Two vessels carrying Russian oil to India are redirected due to new U.S. sanctions on Iran-linked entities, impacting Russia's oil exports amid Western pressure. The Aframaxes Tagor and Guanyin, originally headed to Indian ports, are now bound for China and Egypt, respectively, affecting supply chains and geopolitical dynamics.
Recent U.S. sanctions on Iran-linked entities are causing disruptions in the transportation of Russian oil, with notable repercussions for India's supply chain. Trade sources and data indicate that two vessels originally headed to Indian destinations have changed course, showcasing the wider geopolitical implications of Western pressure on Russia.
This week, the U.S. Treasury Department targeted over 115 individuals and entities involved in the shipping of Russian oil. In response, significant deviations in oil shipments have been observed; the Aframaxes Tagor and Guanyin, bound for Indian ports, are now rerouting to China and Egypt, raising questions about the stability of usual business operations.
The sanctions, aimed at severing Russia's oil revenues fueling its conflict in Ukraine, have directly affected India's refining and import strategies, as the country relies heavily on Russian oil. Notably, the Indian Oil Corp and BPCL, major stakeholders in these dealings, have yet to comment, highlighting the delicate balance of international energy politics.
(With inputs from agencies.)
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