Bloomberg, The Times of India, November 19 - As the transition period for U.S. sanctions on Russian oil is about to end, Indian refiners may avoid sanction risks or shift to a conservative procurement strategy, significantly reducing the amount of Russian oil obtained by India. The U.S. sanctions transition period for Russian oil will expire on November 21. On one hand, Indian refiners are reducing new orders, and on the other hand, they are accelerating the transportation of approximately 7.7 million barrels of Russian crude oil already in transit, to meet the deadline. According to data from shipping intelligence provider Kpler Ltd., total Russian crude oil exports in November 2025 fell by 28% to 2.78 million barrels per day (2.78 million). Among them, the daily export volume to India from November 1 to 17 was 672,000 barrels (672,000), which sharply declined from 1.88 million barrels per day (1.88 million) in October, and exports to China also dropped by 47% to 624,000 barrels per day (624,000). Deliveries to Turkey plummeted by 87% to only 43,000 barrels per day. To avoid sanctions, Russia is increasingly relying on "shadow fleets" - covert transport through sanctioned vessels, then transferred to unsanctioned vessels to complete deliveries at Indian ports. In October, about 44% of Russian oil was transported via sanctioned tankers. Indian refiners remain cautious towards Russian oil companies that are under sanctions. Out of seven major Indian refineries, five have announced that they will stop receiving Russian oil starting November 21, while the state-owned Indian Oil Corporation (Indian Oil Corp.) said it will continue to purchase non-sanctioned crude oil. Meanwhile, Nayara Energy, which heavily relies on Russian oil, is still accepting shipments. It remains unclear whether Indian oil companies have applied for exemptions from the U.S. to continue purchasing crude oil from sanctioned Russian companies after the deadline. Analysts point out that in the coming months, the scale of Russian oil imports into India is likely to significantly shrink, and Indian oil companies may adopt more cautious strategies, including choosing non-sanctioned traders, using mixed sources, and implementing more complex logistics arrangements.

Original: www.toutiao.com/article/1849323893209092/

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