All Indian refiners refuse Russian crude on Sovcomflot tankers, Bloomberg reports

All of India's refiners have stopped accepting Russian crude carried on Sovcomflot tankers because of US sanctions, Bloomberg reported, according to gCaptain. People familiar with the matter said state-run and private processors, including Indian Oil Corp., are refusing such cargoes. About 1.5 million barrels of Urals crude had been shipped on Sovcomflot vessels so far in March, down from 4.4 million barrels in January and 4.7 million in February. The report says the heightened scrutiny also appears to have affected other ships carrying Russian oil. The discount on Russian crude, which reached $30 a barrel after the invasion, has narrowed to about $2 to $4.

This is a summary in our own words of the linked reporting. Allegations are those of the source. How we report.