Indian Refiners Brace for Russian Oil Disruption Amidst New Sanctions

Indian refiners face challenges as new U.S. sanctions target Russian oil shipments, straining Moscow's revenue streams. Sanctions on over 180 oil tankers and major Russian maritime insurance providers force Indian firms to explore alternative crude oil sources, particularly from the Middle East and the U.S.

Indian firms are gearing up for significant disruption in their Russian oil supplies. This situation emerges as Washington imposes stringent sanctions aimed at curbing Moscow's revenue streams, as reported by three key Indian refining sources on Friday.

These sanctions are expected to impact over 180 tankers engaged in shipping Russian oil. Additionally, two major Russian maritime insurance companies, Ingosstrakh Insurance Company and Alfastrakhovanie Group, are targeted, complicating logistics for Russia's crude oil exports.

In response, Indian refiners are proactively scouting for alternative crude sources, with heightened interest in supplies from the Middle East and the U.S. The move demonstrates India's adaptability in the face of geopolitical shifts impacting global energy markets.

(With inputs from agencies.)