Key insights
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1
Significant Drop in Shipments
Russian oil exports to India fell by 66% in November.
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2
Impact of US Sanctions
Sanctions on Rosneft and Lukoil prompted Indian refiners to reduce orders.
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3
Shift in Trading Practices
Tankers are sailing without declared destinations to avoid sanctions.
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4
Future Supply Concerns
Analysts expect further declines in Russian crude flows to India.
Takeaways
The sharp decline in Russian oil shipments to India highlights the significant impact of US sanctions on global trade dynamics. As refiners adjust to these changes, the future of energy imports for India remains uncertain.