India is preparing to reject oil tankers because of the new US sanctions

India is preparing for some oil tankers that the United States has set sanctions due to its role in the transport of consignments in favor of Russia, another example of the impact of Washington’s measures on the global oil market. The United States announced the strongest sanctions on Friday against the Russian energy trade, days before US President Donald Trump held office to replace Joe Biden. Oil prices have since risen, over $ 80, with the inclusion of the major traders and insurance companies – and 160 oil tankers – in the list of the Foreign Assistance Office. Previous US sanctions on oil tankers turned out to be very influential, raising an open question about how buyers respond to the measures taken on Friday. A prominent Indian government official told reporters that the penalty ships would not be allowed to cover. The rented ships are excluded before January 10, provided their load is emptied by March 12. The impact of the US sanctions on the oil market, the official, who asked not to be identified due to the sensitivity of the case, also said: The impact of the imposed sanctions will begin concrete when the stop and liquidation period ends. Oil supplies do not form a problem, as the OPEC organization (OPEC) has a surplus production capacity of 3 million barrels per day, while outside (OPEC) suppliers such as the United States, Canada and Brazil can easily facilitate oil production. The price of oil may be a problem, but the increase above $ 80 a barrel should not last long. Indian oil refineries are on their way to negotiating long -term offers with providers from the Middle East. And based on the market conditions, you may need more crude oil. India is studying what can happen for the share that owns government companies in the “Vostok” oil project after setting sanctions on it. Indian refinery refineries may lose the discount she has enjoyed for purchasing Russian oil if the offer becomes less available. Russia has not yet disclosed its position on sanctions. Russia will provide ways to export oil to India. Indian banks will request certificates of origin to ensure that crude oil does not reach the suppliers subject to sanctions.