Russian Tankers with Sokol Oil Stuck off Coast of India Due to US Sanctions

Five Sovcomflot tankers loaded with Sokol oil from Sakhalin are stuck off the coast of India.

Russia began to experience problems exporting its oil to India after the United States intensified its sanctions policy against Moscow.

According to Bloomberg, five tankers of the Russian shipping company Sovcomflot, loaded with Sakhalin oil Sokol, have stopped off the coast of India in recent weeks. Each of these ships carries 700 thousand barrels of raw materials. The tanker VLCC Nellis, not owned by the Russian company, but also loaded with Sokol oil, was also stuck there. There are 1.4 million barrels of crude on board this vessel.

The reasons why tankers do not enter Indian ports are not specified, but one of the Sovcomflot vessels, NS Century, stopped on November 18 – two days after the US authorities added this tanker to the sanctions list. Another ship stopped moving on December 4, and three others stopped moving in the last week.

Let us recall that in mid-November, the US Treasury dealt a sanctions blow to 14 companies and three tankers involved in transporting Russian oil without observing the price ceiling. After this, observers recorded a sharp decline in the price of Russian Urals oil when shipped from the ports of Primorsk and Ust-Luga.

It was also reported that, against the backdrop of new US sanctions, three large shipping companies in the EU refused to transport Russian oil.

Meanwhile, India is looking for alternative sources of oil supplies. According to media reports, the Indian side began actively purchasing Venezuelan raw materials after the United States eased sanctions against Caracas.

Author: Artem Malinovsky

2023-12-20 15:36:08
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