This is a test from mni

TRUDEAU SAYS TARIFFS WILL BE PAUSED FOR AT LEAST 30 DAYS

MNI BRIEF: US Treasury Lowers Q1 Borrowing Estimate By $9B

MNI CNB WATCH: Steer Means 25Bps Cut To 3.75% "Very Likely"

MNI BRIEF: Fed's Bostic In Wait And See Mode On Rates

MNI BRIEF: Fed's Collins Expects Tariffs To Raise Prices

EZ/UK T-Bill Calendar: 3/6/12-Month EU-Bills Auction Wednesday

EZ/UK Bond Supply Calendar: Green Gilt Auction on Wednesday

EZ/UK Bond Supply Calendar: Green Gilt Auction on Wednesday

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: India’s Refiners Well Covered Amid Russian Sanctions: Platts

OIL
IndiaAPACCommoditiesCEEMEAEnergy BulletsRussiaBullet

India's near-term oil supplies are unlikely to be affected by sanctions on Russian oil due to a two-month winding down period, senior officials told Platts

  • Officials believe global oil availability and OPEC's spare capacity will keep supply comfortable and prices stable.
  • The US and UK announced new sanctions on Russia's energy sector, effective March 12.
  • These sanctions target major Russian oil producers and add numerous entities to a blacklist.
  • Despite a temporary spike in prices, officials expect the market to stabilise, with oil prices not exceeding $80/b for long.
  • Bernstein Research noted that new sanctions would make it harder for Russian crude to reach Asia, increasing demand for Middle Eastern crude.
  • The sanctions will likely drive Indian refiners into negotiating term deals with Middle East suppliers.
  • In 2024, Russian crude imports to India averaged 1.7m b/d.
129 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

India's near-term oil supplies are unlikely to be affected by sanctions on Russian oil due to a two-month winding down period, senior officials told Platts

  • Officials believe global oil availability and OPEC's spare capacity will keep supply comfortable and prices stable.
  • The US and UK announced new sanctions on Russia's energy sector, effective March 12.
  • These sanctions target major Russian oil producers and add numerous entities to a blacklist.
  • Despite a temporary spike in prices, officials expect the market to stabilise, with oil prices not exceeding $80/b for long.
  • Bernstein Research noted that new sanctions would make it harder for Russian crude to reach Asia, increasing demand for Middle Eastern crude.
  • The sanctions will likely drive Indian refiners into negotiating term deals with Middle East suppliers.
  • In 2024, Russian crude imports to India averaged 1.7m b/d.