Russia is successfully bypassing US sanctions on its oil exports by shipping crude aboard sanctioned tankers to India, despite the stated limitations. This move highlights Russia's resilience and India's willingness to secure its energy needs.
Russia appears to be adeptly circumventing US Treasury sanctions imposed on its oil industry, successfully dispatching shipments of sanctioned crude aboard sanctioned tankers to India. Despite the US Treasury's January crackdown on Russian crude exports, Moscow seems to be unfazed. At least five tankers carrying Arctic and Pacific oil are seemingly destined for India, despite falling outside the established exemptions.
India had previously declared its willingness to accept oil from sanctioned vessels only if loaded prior to January 10, the date specified by the US Treasury, and delivered before February 27. However, all five shipments departed after this stated cutoff. This maneuver places both Russia and India in a precarious position, under the scrutiny of the global community striving to compel Russia's withdrawal from Ukraine.Undeterred by the latest sanctions imposed by the US Treasury, Russia has managed to maintain a relatively consistent four-week rolling average of oil shipments in the period leading up to January 26, according to Bloomberg's Tuesday report. These shipments are far from insignificant. Russia's seaborne crude exports averaged 2.96 million barrels per day over the past four weeks, with a notable surge in Pacific and Arctic crude flows. While Baltic port shipments experienced a decline, Arctic port Murmansk witnessed three sanctioned tankers loading crude intended for the Suez Canal and ultimately, Indian ports.Simultaneously, Pacific shipments, including Russia's prized Sokol crude, appear to be directed towards South Asia. Cunning logistical maneuvers, such as transferring oil between sanctioned and unsanctioned vessels near South Korea, complicate enforcement efforts. Analysts have cautioned that Russia's inability to navigate international sanctions could potentially disrupt global oil markets and undermine Russia's economic lifeline—a prospect that is, ironically, the intended outcome. However, India's role in this intricate situation is equally crucial, as the country grapples with balancing its energy security needs against mounting international pressure
RUSSIA OIL SANCTIONS INDIA LOGISTICS
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