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US Sanctions and India‘s Oil Trade with Russia
In January 2025, just before leaving office, the United States’ Joe Biden administration announced sweeping sanctions against Russia’s oil trade.These sanctions targeted 183 tankers, which are part of the so-called shadow fleet that has been facilitating the flow of Russian oil to major consumers like India and China. Additionally, two Russian oil majors, Gazprom Neft and Surgutneftegas, were also sanctioned.
Impact on India’s Oil Trade
- Sanctions on Tankers: The sanctions on tankers could potentially disrupt India’s oil imports from Russia. In December 2024, India imported around 620,000 barrels per day of crude oil carried on tankers that were later included in the US sanctions list. This represented between 13-14% of India’s total crude oil imports.
- Potential Oil Shock: The US sanctions on Russian oil have led to concerns about a potential oil shock for India. The country is now facing the possibility of increased oil prices and supply disruptions due to these sanctions.
- Decrease in Russian Supplies: According to recent reports,Russian supplies to India decreased in december and January to levels seen in the previous six months. This reduction is attributed to the new US sanctions.
- Deputy Energy Minister’s Statement: India’s Deputy Energy Minister has stated that the US sanctions on Russian oil are “illegal” and should not impact India’s oil trade with Russia. The minister emphasized that constructive relationships will continue to be triumphant despite these challenges.
Sources
This summary provides an overview of the impact of US sanctions on russia’s oil trade and how it affects India’s oil imports and trade relations.
US Sanctions on Russia’s Oil Trade and the Impact on IndiaS Oil Imports
In an unprecedented move in January 2025, the United States’ joe Biden governance imposed sweeping sanctions on Russia’s oil trade. these measures targeted 183 tankers and two major Russian oil companies, affecting india’s oil imports considerably. This interview delves into the aftermath of these sanctions and how India is navigating this geopolitical challenge.
Interview with Dr. Sandeep Kumar, Energy Specialist
Introduction to the US Sanctions
World-Today-News: Dr. Kumar, can you briefly explain the rationale behind the US sanctions on Russian oil and the key targets?
Dr. Sandeep Kumar: Certainly! The US sanctions were aimed at curbing Russia’s ability to fund its military activities,particularly in ukraine. The sanctions targeted 183 tankers involved in the so-called “shadow fleet,” which has been facilitating the flow of Russian oil to major consumers like India and China. Additionally, two Russian oil majors, Gazprom Neft and Surgutneftegas, were also sanctioned.
Impact on India’s Oil Trade
Sanctions on Tankers
World-Today-News: How will these sanctions on tankers affect India’s oil imports from russia?
Dr. Sandeep Kumar: The sanctions could potentially disrupt a meaningful portion of India’s oil imports. In December 2024, India imported around 620,000 barrels per day of crude oil carried on tankers that were later included in the US sanctions list. This represented about 13-14% of India’s total crude oil imports. Therefore, there are immediate concerns about supply disruptions and potential increases in oil prices.
Potential Oil Shock
World-today-News: What are the implications of these sanctions for India in terms of oil prices and supply?
dr. Sandeep Kumar: The US sanctions on Russian oil have indeed led to concerns about a potential oil shock for india. The country is now facing the possibility of increased oil prices and supply disruptions due to these measures. This could have a cascading effect on the Indian economy, particularly on industries that rely heavily on oil imports.
Decrease in Russian Supplies
World-Today-News: How have Russian supplies to India changed in the wake of these sanctions?
Dr. Sandeep Kumar: According to recent reports, Russian supplies to India decreased in December and January to levels seen in the previous six months. This reduction is attributed to the new US sanctions, which have intricate India’s efforts to diversify its energy sources and secure a stable supply of crude oil.
Deputy Energy Minister’s Statement
World-Today-News: How has India’s government responded to these sanctions?
dr. Sandeep Kumar: India’s Deputy Energy Minister has stated that the US sanctions on Russian oil are “illegal” and should not impact India’s oil trade with Russia. The minister emphasized that constructive relationships will continue to be triumphant despite these challenges. This stance highlights India’s continued commitment to maintaining trade relations with Russia amidst international pressure.
Conclusion
World-Today-News: Dr. Kumar, what are the main takeaways from this situation, and how might India adapt to these challenges in the future?
Dr. Sandeep Kumar: The main takeaways are that the US sanctions have the potential to disrupt India’s oil supplies and increase prices. However, India remains determined to continue trade with Russia despite these challenges.going forward, India may need to diversify its energy sources further and explore option suppliers to mitigate the impact of future sanctions.
Thank you, Dr. Kumar, for your insights.
Sources: Indian Express, CNBC, Financial Express.
