Several ships loaded with Russian crude oil ordered by India have been unable to deliver their cargo and are now heading away from their intended destination, Bloomberg reported on Tuesday, citing vessel-tracking data.
The deliveries to India have reportedly been hampered by payment issues stemming from Western sanctions. The US treasury pledged last month to ramp up the enforcement of the $60-a-barrel price cap on Russian crude exports, which came into effect in 2022.
The five tankers, which are carrying one of the Russian crude grades, Sokol, had been idling off India for days, and are now moving eastwards towards the Malacca Strait, Bloomberg wrote.
“China seems to have stepped in to save the idling Sokol cargoes,” Viktor Katona, lead crude analyst at data intelligence provider Kpler, is quoted by the outlet as saying.
A sixth tanker, the NS Century, which is sanctioned by the US, has been idling off Sri Lanka, Bloomberg added citing the tracking data.
India emerged as a major buyer of Russian crude following Moscow’s pivot eastwards in the wake of Western-imposed Ukraine-related sanctions.