India figured out how to get Russian oil to bypass US sanctions, — Reuters

Share: Despite recent US and European Union sanctions against Russia and its oil giants, seaborne exports of Russian raw materials continue to operate as normal. India can still buy Russian oil through intermediaries. This was reported by Reuters. According to information from LSEG and publication sources, in October exports from the western ports of Russia — Primorsk, Ust-Luga and Novorossiysk — will amount to about 2. 33 million barrels per day.

This figure is in line with the revised monthly export program, despite weather-related restrictions and Western sanctions. At the same time, American sanctions will officially enter into force on November 22. By November 21, the companies must complete agreements with "Rosneft" and "Lukoil". Sources told Reuters that India and Turkey are expected to abide by these restrictions.

However, ships leaving the Baltic ports will reach Indian refineries only after November 21, as the journey takes about four weeks. "Everything that is shipped to Primorsk is guaranteed to arrive in India after November 21," said one of the traders. At the same time, Indian refineries have not yet decided on further purchases of Russian oil. Reliance Industries, one of the biggest buyers, said it was assessing the impact of the sanctions on its current contracts.

Reuters reports that sales of Russian oil may be diverted through intermediaries and trading companies. This approach will increase costs for sellers, but will help protect buyers from the risks associated with sanctions. We will remind, on the evening of October 22, the USA and the EU announced a decision on new sanctions against the Kremlin. In particular, the EU announced 19 package of sanctions.