Russia has resumed oil shipments to India in March, reports Reuters.
According to the agency, Russian oil exports sharply declined after the sanctions imposed by former U.S. President Joe Biden’s administration on January 10. However, the shipments have now resumed, with tankers not subject to the restrictions. Some oil supplies were redirected from Turkey.
Imports to India have returned to normal levels, while supplies to Turkey have dropped by more than half. Sources claim that some traders have advised Indian refineries to use Western vessels for deliveries to minimize the risk of sanctions.
In recent weeks, the price of Urals oil has fallen below the $60 per barrel cap set by the G7, allowing the use of Western shipping services once again.
Additionally, China has also resumed purchasing Russian oil.
