The first setback between russia and India..!?
India's oil imports have started to be affected by the sanctions imposed by the US government on the Russian energy and oil sector. The central government-controlled oil refining company bharat petroleum corporation limited seems to be facing problems in getting enough ships to buy Russian oil required for March. On january 10, the US government imposed comprehensive sanctions on the Russian energy sector. This includes sanctions on major Russian oil producers Gazprom Neft and Surgutneftegaz, the blacklisting of 183 ships involved in Russian fuel exports, and restrictions on various traders, service providers, tanker owners, insurance companies, and energy officials.
India's oil imports have started to be affected by the sanctions imposed by the US government on the Russian energy and oil sector. The central government-controlled oil refining company bharat petroleum corporation limited seems to be facing problems in getting enough ships to buy Russian oil required for March. On january 10, the US government imposed comprehensive sanctions on the Russian energy sector. This includes sanctions on major Russian oil producers Gazprom Neft and Surgutneftegaz, the blacklisting of 183 ships involved in Russian fuel exports, and restrictions on various traders, service providers, tanker owners, insurance companies, and energy officials.
With this, it is expected that not only Bharat Petroleum but also indian oil companies will be less dependent on Russian oil in the coming period. This problem can be easily fixed by bringing new ships on this route as an alternative. But this will take some time. In the October-December quarter, about 31% of the total crude oil imported by Bharat Petroleum was Russian oil. However, this figure is expected to drop to 20% in march due to the current sanctions. It is worth noting that in early april 2024, Russian oil accounted for 34-35% of BPCL's imported crude oil.
