Russian Sokol oil returns to India despite sanctions

Several supertankers carrying Russian Sokol oil are heading toward India, although the country had previously refused to buy the raw material due to threats of sanctions.

This was reported by RBC-Ukraine regarding Bloomberg.

The publication notes that the supertanker Nireta is anchored near Visakhapatnam on the east coast of India, and two other tankers, the Eastern Prospect and Erecter, are near Jamnagar in the west. They both point to Sikkah as their destination. The Clyde Noble, another vessel filled with Sokol, is also currently en route to Sikkah.

Bloomberg writes that between now and mid-January, 10 shipments of Sokol crude oil that were supposed to arrive in India have not been unloaded, and at least five vessels have headed back through the Strait of Malacca.

All the Sokol cargoes loaded in March and most of the cargoes shipped in February have been delivered to China, but some of these earlier shipments are now returning to India.

What has changed is that Sokol is now supplied by traders rather than the manufacturer, and cargoes are being offered at attractive discounts, leading to the resumption of some shipments to India.

Author - Serhii Kolomiets, 03/04/2024