I am a Breaking News Reporter at Forbes, with a focus on covering important tech policy and business news. Graduated from Columbia University with an MA in Business and Economics Journalism in 2019. Worked as a journalist in New Delhi, India from 2014 to 2018.
Indian oil refineries have stopped accepting Russian crude oil delivered by tankers operated by Sovcomflot—Russia’s largest commercial shipping company that has been sanctioned by the U.S.—Bloomberg, potentially dealing a blow to Moscow’s economy as India is one of the largest importers of its fossil fuels since the start of the Ukraine war.
The oil companies have reportedly been inspecting all ships to ensure Sovcomflot or any other sanctioned organization does not operate them. The inspections have also disrupted Russian crude delivery by other vessels, which are also being forced to wait for several weeks off the country’s coast with no clear timeline on when they will be able to deliver their cargo, the report added.on Thursday that Reliance Industries, India’s largest private oil firm and operator of the world’s biggest oil refinery complex, has also refused to accept crude delivered by Sovcomflot’s tankers.
The report added that Reliance has requested its Russian suppliers to not use the sanctioned company’s fleet for future deliveries. None of the companies have publicly spoken on the matter and sources cited by both reports say the issue was private and sensitive.a raft of 500 new sanctions against Russia in response to the death of jailed opposition leader Alexei Navalny and its ongoing invasion of Ukraine. President Joe Biden’sannouncing the sanctions said Russia’s financial sector, the country’s defense industry and “sanctions evaders across multiple continents,” were being targeted.
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