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    India's refiners cut Russian crude as sanctions bite

    来源:shippingazette.com    编辑:编辑部    发布:2025/12/05 09:08:01

    India's intake of Russian crude is set to drop sharply in December after new US and EU sanctions targeted Rosneft and Lukoil, reports Saint Petersburg's PortNews.


    Arrivals peaked in November as refiners front-loaded cargoes before a 21 November deadline, but flows may fall to 600,000��50,000 bpd, a three-year low.

    Reuters data showed India imported about 1.87 million bpd of Russian crude in November, up from 1.65 million bpd in October. The decline follows US blacklisting of Rosneft and Lukoil, an EU ban from January 2026 on fuels processed with Russian crude, and a US tariff hike adding 25 per cent duty on Indian purchases.

    Reliance Industries halted Russian crude imports into its SEZ refinery from 20 November, diverting later cargoes to its Domestic Tariff Area unit. Signal Ocean data indicated Reliance front-loaded shipments, with the last SEZ-bound cargo loaded on 12 November.

    State refiners have adjusted strategies. Indian Oil Corporation booked five ESPO cargoes from non-sanctioned suppliers for December, while MRPL, HPCL and HPCL-Mittal Energy reduced or stopped Russian inflows. Nayara Energy, part-owned by Rosneft, continues to run mainly Russian crude under tighter scrutiny.

    The shift reflects India's broader crude realignment. Russian barrels accounted for about one-third of imports in 2024��5, with 60 per cent from Rosneft and Lukoil. US crude reached 10.7 per cent of inflows in October 2025, alongside supplies from the Middle East, Latin America and West Africa.