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Bangkok Post
7 days ago
- Business
- Bangkok Post
India under more pressure to shun Russian oil
NEW DELHI — At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new US sanctions, according to trade sources and data providers. The development comes even as Indian officials are reportedly saying they would keep purchasing oil from Russia despite the threat of steep penalties by US President Donald Trump. The New York Times quoted two senior Indian officials as saying there had been no change in policy, and that the government had 'not given any direction to oil companies' to cut back imports from Russia. Reuters could not immediately verify the report. The White House, India's Ministry of External Affairs and the Ministry of Petroleum and Natural Gas did not immediately respond to requests for comment. On July 14, Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35% of India's overall supplies. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. Reuters had reported earlier that Indian state refiners had stopped buying Russian oil in the past week as discounts narrowed in July. The US Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities and ships, some of which are involved in transporting Russian oil. Three ships — the Aframaxes Tagor and Guanyin and the Suezmax Tassos — were scheduled to deliver Russian oil to Indian ports this month, trade sources said. All three vessels are under US sanctions. Tagor was bound for Chennai on India's east coast, while Guanyin and Tassos were headed to ports in western India, according to trade sources and Russian ports data. Tighter Western sanctions aimed at cutting Russia's oil revenue, seen as funding its war against Ukraine, have been increasingly hitting Russian oil supplies for India. Tagor is now heading to Dalian in China, while Tassos is diverting to Port Said in Egypt, the data showed. Guanyin remains on course to Sikka, a port used by the Indian conglomerate Reliance Industries and Bharat Petroleum Corp Ltd (BCPL). Indian Oil Corp, which was to receive the Tagor shipment, and BPCL did not respond to Reuters' emailed requests for comment. Zulu Shipping, linked to Panama-flagged Tassos and Tagor, and Guanyin-owner Silver Tetra Marine could not be reached for comments. Both companies are under US sanctions. A Reliance spokesperson said that 'neither of these two vessels, Guanyin and Tassos, is coming to us'. Reliance has previously purchased oil in Guanyin. Separately, two other vessels, Achilles and Elyte, loaded with Russian oil, were preparing to discharge Russian Urals crude for Reliance, according to data from LSEG (London Stock Exchange Group). Both these vessels are sanctioned by Britain and the European Union. India has condemned the EU sanctions.
Business Recorder
01-08-2025
- Business
- Business Recorder
US sanctions force vessels with Russian oil to divert from India, sources say
NEW DELHI: At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting Russian oil. U.S. President Donald Trump has urged countries to halt purchases of oil from Moscow, threatening 100% tariffs unless Russia agrees to a significant peace deal with Ukraine. Three ships - the Aframaxes Tagor and Guanyin and the Suezmax Tassos - were scheduled to deliver Russian oil to Indian ports this month, trade sources said. All three vessels are under U.S. sanctions. Tagor was bound for Chennai on India's east coast, while Guanyin and Tassos were headed to ports in western India, according to trade sources and Russian ports data. US sanctions strand Iran, Russia oil on tankers, driving up crude costs Tighter Western sanctions aimed at cutting Russia's oil revenue, seen as funding its war against Ukraine, have been increasingly hitting Russian oil supplies for India, which buys more than a third of its oil needs from Russia. Tagor is now heading to Dalian in China, while Tassos is diverting to Port Said in Egypt, the data shows. Guanyin remains on course to Sikka, a port used by Reliance Industries and Bharat Petroleum Corp Ltd.. Indian Oil Corp, which was to receive the Tagor shipment, and BPCL did not respond to Reuters' emailed requests for comment. Zulu Shipping, linked to Panama-flagged Tassos and Tagor, and Guanyin-owner Silver Tetra Marine could not be reached for comments. Both companies are under U.S. sanctions. A Reliance spokesperson said that 'neither of these two vessels, Guanyin and Tassos, is coming to us'. Reliance has previously purchased oil in Guanyin. Separately, two other vessels, Achilles and Elyte, loaded with Russian oil, are preparing to discharge Russian Urals for Reliance, according to LSEG data. Both these vessels are sanctioned by Britain and the European Union. India has condemned the EU sanctions.
Straits Times
01-08-2025
- Business
- Straits Times
US sanctions force vessels with Russian oil to divert from India, sources say
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: The Russian vessel Tantal, an oil/chemical tanker, is berthed at the far eastern city of Vladivostok, Russia April 3, 2016. Picture taken April 3, 2016. REUTERS/Stringer/File Photo NEW DELHI/MOSCOW - At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting Russian oil. U.S. President Donald Trump has urged countries to halt purchases of oil from Moscow, threatening 100% tariffs unless Russia agrees to a significant peace deal with Ukraine. Three ships - the Aframaxes Tagor and Guanyin and the Suezmax Tassos - were scheduled to deliver Russian oil to Indian ports this month, trade sources said. All three vessels are under U.S. sanctions. Tagor was bound for Chennai on India's east coast, while Guanyin and Tassos were headed to ports in western India, according to trade sources and Russian ports data. Tighter Western sanctions aimed at cutting Russia's oil revenue, seen as funding its war against Ukraine, have been increasingly hitting Russian oil supplies for India, which buys more than a third of its oil needs from Russia. Tagor is now heading to Dalian in China, while Tassos is diverting to Port Said in Egypt, the data shows. Guanyin remains on course to Sikka, a port used by Reliance Industries and Bharat Petroleum Corp Ltd.. Indian Oil Corp, which was to receive the Tagor shipment, and BPCL did not respond to Reuters' emailed requests for comment. Zulu Shipping, linked to Panama-flagged Tassos and Tagor, and Guanyin-owner Silver Tetra Marine could not be reached for comments. Both companies are under U.S. sanctions. A Reliance spokesperson said that "neither of these two vessels, Guanyin and Tassos, is coming to us". Reliance has previously purchased oil in Guanyin. Separately, two other vessels, Achilles and Elyte, loaded with Russian oil, are preparing to discharge Russian Urals for Reliance, according to LSEG data. Both these vessels are sanctioned by Britain and the European Union. India has condemned the EU sanctions. REUTERS
