USA grants India temporary licence to import Russian crude
→Indian procurement teams must accept Russian cargoes only if loaded before Mar 5
Change
USA issued a temporary licence limiting India's Russian crude imports to cargoes loaded before March 5.
Why it matters
Refinery procurement teams must verify cargo loading dates against the licence cutoff. About 22 million barrels of Russian oil sit on tankers in the region.
Implications
- — Indian procurement teams must confirm Russian cargoes loaded before Mar 5 or face import denial.
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Source
View on Economic Times