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Tankers and Gas Political Risk and Trade India

Indian imports of Russian crude rising again despite Trump pressure

  • Indian imports from Russia declined in December in the aftermath of Lukoil and Rosneft sanctions announcement in late October, but were still significant at 1.27m bpd
  • Russian exports to India based on date of departure averaged 1.78m bpd in December, up 15% vs November, implying Indian imports by arrival date will rise in January
  • US President Donald Trump warned on Sunday that ‘we could raise the tariffs on them very quickly’, referring to Indian purchases of Russian crude

  • Analysis

Owners of compliant very large crude carriers have benefitted from more bookings by Indian importers, yet India remains very active in imports of Russian crude transported by the shadow fleet. Inbound volumes are on the rise again in January

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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