India Shifts to US Oil as Sanctions Squeeze Russian Supplies

Written by Camilla Jessen

Mar.26 - 2024 9:32 AM CET

Photo: VanderWolf Images /
Photo: VanderWolf Images /
In response to tightening sanctions against Russia, India is set to import a record 7.6 million barrels of US oil next month.

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India is set to receive about 7.6 million barrels of US oil next month, marking the highest figure in a year as sanctions tighten against Russian oil, according to Reuters.

The country, being the world's third-largest oil importer and consumer, is looking to diversify its supplies as new US sanctions against Russia pose a threat to Russian oil sales to India.

"About 7.6 million barrels of oil, or 256,000 barrels per day (bpd), are en route to India aboard three very large crude carriers and three Suezmax vessels, according to ship tracking company Kpler," the report states.

India emerged as the largest purchaser of Russian oil last year, after other nations ceased their purchases in the wake of Western sanctions imposed on Moscow following its February 2022 invasion of Ukraine.

The US escalated its efforts to curtail the trade in Russian oil last month by implementing sanctions against the state-owned shipping company Sovcomflot.

Sources told the publication that India's Reliance, which operates the world's largest oil refining complex, will refrain from buying Russian oil loaded on tankers operated by Sovcomflot, in light of the recent US sanctions.

Furthermore, additional Indian refiners are expected to steer clear of Sovcomflot vessels, potentially complicating Russian oil imports and reducing Russia's sales of its flagship product, according to the sources.

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