Russia’s Sokol Crude Back on Move to India Despite US Sanctions
- Four tankers are at or heading toward ports in India
- Nation’s refiners have shunned oil on Sovcomflot tankers
An oil refinery at a port in Visakhapatnam, Andhra Pradesh, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Three tankers hauling Russian Sokol cargoes are anchored near Indian ports, indicating trade of the crude grade is returning despite complications caused by tougher US sanctions.
Indian refiners have become a major buyers of discounted Russian oil since the invasion of Ukraine, but have faced difficulties receiving the far-eastern variety amid tighter sanctions enforcement since late last year.