US allows India to temporarily buy Russian oil from tankers - 30-day exception introduced
The United States has allowed India temporarily buy Russian oil that is currently stored on tankers at sea. For this purpose, a special 30-day exemption from sanctions, The company's newly acquired equipment allows it to complete deliveries already made.
We are talking about crude oil shipments from Russia, that had been shipped earlier and are currently on board tankers in international waters.
Why we made this decision
У USA explained that the temporary exemption is necessary for the stability of the global energy market.
A sharp blockade of supplies could:
reduce the supply of oil on the global market
cause a sharp rise in prices
create additional pressure on energy markets
That is why it was decided to allow the completion of the deliveries already made.
Oil remains on tankers
According to sources, significant volumes of Russian oil are currently on tankers awaiting unloading. Some of these vessels have been at sea for several days or even weeks due to uncertainty over sanctions rules.
Washington's interim decision allows Indian companies to accept these oil shipments and bring them to the global market.
India is one of the largest buyers of Russian oil
After the start of Russia's full-scale war against Ukraine, India has become one of the largest buyers of Russian oil, enjoying significant discounts.
At the same time, the country is trying to balance its economic interests with the West's sanctions policy.
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