U.S. Sanctions Push India's Russian Crude Imports to Three-Year Low
Market Intelligence Analysis
AI-PoweredIndia's Russian crude imports have reached a three-year low due to US sanctions, with refiners opting for diversified sourcing to avoid sanctioned cargoes.
Market impact analysis based on bearish sentiment with 90% confidence.
Article Context
India’s imports of Russian crude this month are set to be close to the three-year low in December as refiners avoid sanctioned cargoes and sellers and look to diversify sourcing to appease the U.S. Administration. Due to the U.S. sanctions on Russia, India is estimated to have imported 1.1-1.3 million barrels per day (bpd) of Russian crude in December—volumes that were sharply down from November and the lowest level in just over three years. The December imports would be down from an estimated 1.84 million bpd in November. …
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