**Russian Oil Tankers Idle Off India’s Western Coast as Refiners Reconsider Purchases**
India, one of the world’s largest oil consumers, is facing a crisis of confidence when it comes to buying Russian crude. At least four oil tankers carrying Russian oil have been idling off the country’s western coast for days, highlighting the growing uncertainty surrounding India’s future purchases.
According to Bloomberg, these tankers are anchored near Jamnagar and other ports, having missed their expected arrival dates. The vessels, which are capable of transporting about 700,000 barrels each, were loaded with Ural-grade crude from Russia’s Primorsk and Ust-Luga ports in late June. However, with the United States and European Union imposing sanctions on Russian oil imports, Indian refiners are now reconsidering their purchases.
The situation is further complicated by the fact that India’s state-owned companies, including Indian Oil, Hindustan Petroleum, and Bharat Petroleum, have not purchased Russian crude in the past week. This is a significant development, as these companies account for more than 60% of the country’s refining capacity, which is around 5.2 million barrels per day.
**US Sanctions Pressure**
The US has been putting pressure on India to reduce its energy ties with Moscow. In July, President Donald Trump announced a 25% tariff on Indian goods effective August 1, citing New Delhi’s continued purchases of Russian oil and weapons as the reason for the move. The administration also warned of further penalties unless India reduces its energy ties with Russia.
India has reportedly asked domestic refiners to prepare alternative sourcing strategies, which could include spot markets and other crude from the Middle East and West Africa. However, private refiners like Reliance and Nayara Energy remain major importers of Russian oil.
**A Shift in India’s Oil Imports**
This development marks a shift in India’s reliance on Russian oil imports. In 2022, India became the second-largest buyer of Russian crude after China, taking advantage of deep discounts and reduced demand from Europe. However, with the US and EU imposing sanctions on Russian oil imports, India is now facing a crisis of confidence when it comes to buying Russian crude.
The future of India’s oil imports remains uncertain, as the country navigates its energy ties with Moscow amidst growing international pressure.
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