Las sanciones de EEUU al crudo ruso redefinen posición de India antes de visita de Putin Indian refineries are adjusting to US sanctions on Russian oil, having significantly increased imports just before new tariffs took effect. These sanctions, imposed due to concerns about Russian oil reaching Europe via India, are pressuring New Delhi to balance its need for affordable energy with international restrictions. India has become a crucial market for Russian crude since the Ukraine conflict, with refineries transforming it into refined products for global markets, though indirect shipping methods are now being utilized to circumvent sanctions.

• US sanctions on Russian oil companies Rosneft and Lukoil have prompted Indian refineries to reassess their relationship with Russian crude.
• India increased its import of Russian crude oil significantly in November, especially in the days leading up to the November 21st deadline for US sanctions.
• The US imposed tariffs on Indian products, citing a ‘refinery loophole’ that allowed transformed Russian oil to reach Europe.
• India maintains its energy decisions are guided by ‘energy security’ and the pursuit of ‘affordable energy from diverse sources’.
• India is a major buyer of Russian fossil fuels, receiving 38% of Russia’s exported crude in October.
• Indian private refineries, like Jamnagar and Vadinar, have played a key role in finding international markets for Russian oil products.
• Anticipated Russian import volumes for India are expected to fall in December following the abrupt cuts by major refineries.
• Major Indian companies like Reliance, IOC, BPCL, HPCL, and MRPL have ceased or slowed new purchases linked to sanctioned entities.
• The use of opaque shipping routes, including ‘ship-to-ship’ transfers, is increasing for Russian crude destined for India to evade sanctions.
• The ‘shadow fleet’ of tankers is transporting a significant portion of Russian crude, a trend expected to continue as Moscow seeks to bypass sanctions.