Tankers deliver Russian crude to India despite US, EU pressure
Oil traders and shipping companies have been waiting for direction from New Delhi on whether supplies from Moscow will be allowed to continue after US President
Donald Trump
last week threatened punitive action to curb trade with Russia. Over the weekend, a senior aide accused India of effectively funding President Vladimir Putin's war in Ukraine.
Washington's tough demands, coming after a surprise 25 per cent tariff on Indian exports to the US, threw private and state-owned refineries' purchase plans into disarray. Still, India hasn't asked refiners to stop Russian crude imports, according to people familiar with the matter.
Three Aframaxes — the Achilles, Elyte and Horae — unloaded nearly 2.2 million barrels of Urals crude, a key Russian grade, to private processors
Nayara Energy Ltd
and
Reliance Industries Ltd
over the weekend after a slight delay, ship-tracking data show.
The Mikati, also an Aframax, delivered more than 720,000 barrels of Russia's Varandey crude on a two-stop journey that included deliveries to refineries in Kochi and Mangalore. State-run Bharat Petroleum Corp Ltd owns the Kochi refinery, while
Mangalore Refinery and Petrochemicals Ltd
. is majority owned by state-run Oil and Natural Gas Corp Ltd.
More tankers are poised to discharge another 2.2 million barrels of Urals in the coming hours, with Minion and Destan now at Sikka, a terminal operated by
Reliance
. Aldebaran is due to unload across the gulf at Mundra. While Bloomberg News couldn't immediately determine the buyer, the Mundra port serves both government-run
Indian Oil Corp Ltd
. and HPCL-Mittal Energy Ltd, partially owned by state-run Hindustan Petroleum Corp Ltd.
Reliance, the largest buyer of Russian Urals, has a long-term deal with Russian producer Rosneft PJSC that would ensure it can get those barrels over several years.
India's appetite for discounted Russian crude, and its position as the single largest buyer of Moscow's seaborne oil, has long been a pain point for the US and Western allies. Scrutiny has increased in recent weeks, even before Trump's latest comments. Nayara was sanctioned by the European Union on July 18 for its links to Russia, prompting the processor to cut run rates and pushing trade partners to seek supplies elsewhere.
Reliance, Nayara, BPCL, and MRPL didn't immediately reply to emails seeking comments.
Vessel Load port (date) Discharge port (date) Crude grade (no. of barrels) Potential takers Achilles Primorsk (June 28) Sikka (Aug. 2) Urals (730,000) Reliance Elyte Ust Luga (June 28) Sikka (Aug. 2) Urals (717,000) Reliance Horae Ust Luga (July 1) Vadinar (Aug. 2) Urals (714,000) Nayara Mikati Murmansk (June 21) Kochi (July 31), New Mangalore (Aug. 3) Varandey (723,000) BPCL, MRPL Minion Ust Luga (June 24) Sikka (Aug. 4) Urals (715,000) Reliance Destan Primorsk (June 24) Sikka (Aug. 5–10) Urals (730,000) Reliance Aldebaran Primorsk (July 1) Mundra (Aug. 4) Urals (730,000) Indian Oil, HPCL
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