Russian oil tanker
A tanker carrying Russian crude oil bound for India suddenly took a U-turn and stopped in the Baltic Sea. It is believed that this step is an indication of the disruption in oil trade between the two countries after America imposed new strict sanctions on Russia. Now the question arises whether India is going to stop importing cheap crude oil from Russia and whether the price of petrol and diesel may increase in India soon. We are going to tell you about all this in detail here.
what happened
The tanker, named Furia, was heading west on the sea route between Denmark and Germany when it changed direction on Tuesday. The speed of the ship also slowed down considerably. This tanker is carrying oil sold by Russia’s state oil company Rosneft. This U-turn came when America imposed strict sanctions on Rosneft and another Russian company Lukoil a week ago. The US Finance Department has said that all transactions related to these companies should be closed by November 21.
India may be affected
Russia’s Rosneft and Lukoil oil companies used to sell crude oil to India at cheap prices. Now, after the American sanctions imposed on them, it may be difficult for Indian refineries to get cheap oil. Officials of Indian oil companies said that the oil supply from Russia is now expected to reduce significantly.
ship details
The Furia tanker loaded about 7.3 lakh barrels of oil from Russia’s Primorsk Port on October 20. Its destination was initially stated to be Sikka Port in Gujarat (where Reliance and Bharat Petroleum have refineries), and it was expected to reach by mid-November. But later the route of the ship was changed and now it is showing that it will reach Port Said in Egypt next month. Often ships coming to India from Russia first go to Port Said, then change their final destination after crossing the Suez Canal.
Reliance and BPCL adopted caution
Reliance, which has a contract to buy oil from Russia, has said it will abide by all international sanctions. Recently the company has started buying oil from the Middle East instead of Russia. Government refineries have also started being cautious in taking Russian oil after the US sanctions.
Europe also under strict surveillance
Furia is already under sanctions from the European Union and the UK. Harbor Harmony Shipmanagement, the Azerbaijani company responsible for the management of the ship, has not yet responded. Many countries in Europe, especially Denmark, are now increasing checks on ships carrying Russian oil so that such tankers cannot pass through their waters. Denmark has said it will take special care of older ships and Furia is now 23 years old, whereas oil tankers are generally considered to be 18 years old.