Many ships carrying Russian crude that had been sailing away from India are now heading east from the country, with arrivals declining last month due to concerns over oil payments to Moscow.
five ships carrying all Sokol oil from the Russian Far East – According to vessel-tracking data, NS Commander, Sakhalin Island, Krymsk, Nellis and Liteiny Prospekt – are heading towards the Malacca Strait at 7 to 10 knots. 6th Sokol – NS century – still close to Sri Lanka.
“It appears that China has taken steps to rescue the idled Sokol cargoes,” said Victor Katona, chief crude analyst at data intelligence provider Kpler.
India’s oil imports from Russia – a vital outlet for Moscow amid the war in Ukraine – fell in December to the lowest since January 2023, according to Kpler, with local refiners not receiving a single Sokol cargo due to payment issues.
The US and its allies have imposed sanctions on entities that violate the $60 per barrel limit on Russian crude exports, which came into effect at the end of 2022. Last month, a senior Treasury official said enforcement would be stepped up.
The NS Century – which carries about 700,000 barrels – was cleared by the US Treasury last year. The other four ships could carry the same amount of cargo, while the fifth, Nellis, could carry twice as much weight. Most of the ships are owned by Sovcomflot PJSC, Russia’s state-backed shipping company.
five ships carrying all Sokol oil from the Russian Far East – According to vessel-tracking data, NS Commander, Sakhalin Island, Krymsk, Nellis and Liteiny Prospekt – are heading towards the Malacca Strait at 7 to 10 knots. 6th Sokol – NS century – still close to Sri Lanka.
“It appears that China has taken steps to rescue the idled Sokol cargoes,” said Victor Katona, chief crude analyst at data intelligence provider Kpler.
India’s oil imports from Russia – a vital outlet for Moscow amid the war in Ukraine – fell in December to the lowest since January 2023, according to Kpler, with local refiners not receiving a single Sokol cargo due to payment issues.
The US and its allies have imposed sanctions on entities that violate the $60 per barrel limit on Russian crude exports, which came into effect at the end of 2022. Last month, a senior Treasury official said enforcement would be stepped up.
The NS Century – which carries about 700,000 barrels – was cleared by the US Treasury last year. The other four ships could carry the same amount of cargo, while the fifth, Nellis, could carry twice as much weight. Most of the ships are owned by Sovcomflot PJSC, Russia’s state-backed shipping company.
