https://sputniknews.in/20250113/no-disruption-in-russian-oil-supplies-due-to-us-sanctions-indian-govt-sources-8651790.html
No Disruption in Russian Oil Supplies Due to US Sanctions: Indian Govt Sources
No Disruption in Russian Oil Supplies Due to US Sanctions: Indian Govt Sources
Sputnik India
There won't be any "immediate disruptions" because of the latest US Treasury sanctions against Russian energy companies as well as nearly 183 vessels used for transporting crude from Russia to India, government sources have told Sputnik India.
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There won't be any "immediate disruptions" because of the latest US Treasury sanctions against Russian energy companies as well as nearly 183 vessels used for transporting crude from Russia, government sources have told Sputnik India.Sources expressed confidence that Russian crude will find its way to Indian refiners even after the two-month period.The latest US sanctions, announced last week by the outgoing Biden administration, have led to prices touching a recent high of $80 per barrel on the Brent crude index.India has emerged as a major importer of Russian crude since 2022, with year-on-year imports rising by around 4.5 percent in the first 11 months last year, according to data reported in the media.Nearly 36 percent of India's overall oil imports were sourced from Russia last year, according to industry data.For its part, India relies on imported crude to meet over 85 percent of its energy requirements, making it the second biggest oil importer after China.
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No Disruption in Russian Oil Supplies Due to US Sanctions: Indian Govt Sources
17:43 13.01.2025 (Updated: 20:41 13.01.2025) Despite the ramping up of US sanctions against Russia's energy sector, Indian government sources expect India-Russia crude trade to hold steady in coming months.
There won't be any "immediate disruptions" because of the latest US Treasury sanctions against Russian energy companies as well as nearly 183 vessels used for transporting crude from Russia, government sources have told Sputnik India.
"Vessels loaded with crude in Russia would take around 35-40 days to get to India. They will reach here and get their payments, given they follow the G7 price cap and other conditions," sources said.
"We expect regular oil supplies from Russia for two months," they said.
Sources expressed confidence that
Russian crude will find its way to Indian refiners even after the two-month period.
"We are pretty confident that we will work to get crude from there to its destination," sources said.
The latest US sanctions, announced last week by the outgoing Biden administration, have led to prices touching a recent high of $80 per barrel on the Brent crude index.
India has emerged as a major importer of Russian crude since 2022, with year-on-year imports rising by around 4.5 percent in the first 11 months last year, according to data reported in the media.
Nearly 36 percent of India's overall oil imports were sourced from Russia last year, according to industry data.
For its part, India relies on imported crude to meet over 85 percent of its energy requirements, making it the second biggest oil importer after China.
