The US hit sanctions on Russian oil supplies to India

All three flew the flag Liberia tanker, in respect of which USA the day before, on November 16, they imposed sanctions for violating the terms of the price ceiling for Russian oil, and were engaged in the delivery of raw materials to India. Writes about this with reference to data from LSEG and Kpler Reuters.

The affected Kazan, Ligovsky Prospect and NS Century unloaded Sokol oil in September, and two of them made another voyage in October. Now NS Century is on its way to deliver the shipment to the Indian city of Vadinar on November 25.

The Far Eastern grade of oil Sokol is considered premium; it costs more than the main Russian export grade Urals. According to industry estimates, its sales have always taken place at prices above $60 per barrel, although supplies mainly took place in Chinawhere the impact of the price ceiling was significantly lower.

Tanker management companies were registered in United Arab Emirates and Liberia. Also on the eve of sanctions hit 11 companies registered in Russia.

The United States has recently stepped up efforts to counter violations of the price ceiling, primarily for supplies to India. In particular, at the end of October it became known that the US Treasury started checking Indian banks operating in the country on the topic of assistance in circumventing restrictions. They were required to provide detailed information about oil purchases in Russia.

The growing activity coincided with a significant decline in oil prices. Compared to September price highs sank by more than 20 percent.

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