Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > India denies entry to ship carrying Russian oil over documentation, sources say
    Finance

    India denies entry to ship carrying Russian oil over documentation, sources say

    India denies entry to ship carrying Russian oil over documentation, sources say

    Published by Global Banking and Finance Review

    Posted on March 27, 2025

    Featured image for article about Finance

    By Nidhi Verma

    NEW DELHI (Reuters) -Indian port authorities denied entry to an ageing tanker loaded with Russian crude on Thursday due to inadequate documentation, sources familiar with the matter said, an unusual move that indicates tightened scrutiny of vessels carrying Russian oil.

    India is the biggest buyer of seaborne Russian crude. Russian oil accounted for about 35% of overall crude imports in 2024 by India, the world's third biggest oil importer and consumer.

    The Tanzania-flagged Andaman Skies, carrying about 100,000 metric tons (or some 800,000 barrels) of Varandey Russian oil sold by Lukoil from the northern port of Murmansk, shipping data showed, was on course for the Vadinar Port for delivery to state refiner Indian Oil Corp before being turned away, sources said.

    The sources declined to be named as they are not authorised to speak with media.

    Indian port entry rules require tankers that are more than 20 years old to have seaworthiness certification by a member of the International Association of Classification Societies or an entity authorised by India's maritime administration.

    Andaman Skies, which was built in 2004 and had previously visited India as recently as December, was carrying certification by Dakar Class, which is based in India but not recognised by Indian shipping authorities, the sources said.

    The vessel has protection and indemnity (P&I) insurance cover from Russian company Soglasie, according to two sources familiar with the vessel's documents.

    Lukoil and Soglasie didn't immediately respond to Reuters' requests for comment. Vadinar port authorities and Indian Oil did not respond to Reuters' emails seeking comments.

    Russian oil supplies to top buyers India and China fell sharply in the immediate aftermath of sweeping U.S. sanctions in January, aimed at curtailing Moscow's oil revenue, on targets including more than 100 ships, making it harder for sellers of Russian oil to find vessels.

    India's oil secretary last month said the country's refiners would buy Russian oil supplied by companies and ships not sanctioned by the U.S., effectively reducing the number of cargoes and vessels available.

    Indian refiners buy Russian oil on delivered basis with ship, insurance and other servics arranged by the seller.

    While the Andaman Skies is subject to UK and European Union sanctions, it is not designated by U.S. or United Nations sanctions. India follows United Nations sanctions.

    Contact information for the ship's owner Durbeen Navigation Ltd could not immediately be found.

    (Reporting by Nidhi Verma, Additional reporting by Moscow bureau; editing by David Evans and Tony Munroe)

    Related Posts
    UK's FTSE 100 falls as oil, defence stocks weigh; domestic unemployment climbs
    UK's FTSE 100 falls as oil, defence stocks weigh; domestic unemployment climbs
    Sterling rises after UK economic data, US figures in focus
    Sterling rises after UK economic data, US figures in focus
    Sonnedix wins contracts for 805 MW of solar capacity in Italy
    Sonnedix wins contracts for 805 MW of solar capacity in Italy
    German financial watchdog finds non-compliance at local Standard Chartered unit
    German financial watchdog finds non-compliance at local Standard Chartered unit
    European economies end year resilient but sluggish
    European economies end year resilient but sluggish
    German investor morale rises more than expected in December, ZEW finds
    German investor morale rises more than expected in December, ZEW finds
    EU Parliament approves deal to weaken corporate sustainability laws
    EU Parliament approves deal to weaken corporate sustainability laws
    EU lawmakers seek to tighten controls on Mercosur farm imports
    EU lawmakers seek to tighten controls on Mercosur farm imports
    Italy's ruling parties urge caution on using frozen Russian assets
    Italy's ruling parties urge caution on using frozen Russian assets
    UK launches BBC funding review, as broadcaster reels from Trump lawsuit
    UK launches BBC funding review, as broadcaster reels from Trump lawsuit
    Czech defence group CSG wins $1 billion Asian truck deal, opens Slovak ammunition line
    Czech defence group CSG wins $1 billion Asian truck deal, opens Slovak ammunition line
    EU races to win over Italy on Mercosur trade deal, says EU lawmaker
    EU races to win over Italy on Mercosur trade deal, says EU lawmaker

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    KNDS, Leonardo to develop new mobile artillery system together

    KNDS, Leonardo to develop new mobile artillery system together

    BBC says it will fight Trump lawsuit over edited speech

    BBC says it will fight Trump lawsuit over edited speech

    TotalEnergies to sell stake in Malaysian gas block to Thailand's PTTEP

    TotalEnergies to sell stake in Malaysian gas block to Thailand's PTTEP

    US dollar close to multi-week lows versus euro and yen before US data

    US dollar close to multi-week lows versus euro and yen before US data

    Dassault Aviation CEO unsure if FCAS fighter will go ahead

    Dassault Aviation CEO unsure if FCAS fighter will go ahead

    Europe's leaders and laggards in electric vehicle sales

    Europe's leaders and laggards in electric vehicle sales

    EU members bordering Russia push for enhanced security at Helsinki meeting

    EU members bordering Russia push for enhanced security at Helsinki meeting

    Netherlands will host International Claims Commission for Ukraine, minister says

    Netherlands will host International Claims Commission for Ukraine, minister says

    EU to widen carbon border levy to close loopholes on polluting goods, draft shows

    EU to widen carbon border levy to close loopholes on polluting goods, draft shows

    UK's Serica Energy to buy Southern North Sea assets for $76 million

    UK's Serica Energy to buy Southern North Sea assets for $76 million

    World Bank, Vakifbank to mobilise up to $1.7 billion for Turkey's small businesses

    World Bank, Vakifbank to mobilise up to $1.7 billion for Turkey's small businesses

    SThree shares jump as US market rebounds, guidance confirmed

    SThree shares jump as US market rebounds, guidance confirmed

    View All Finance Posts
    Previous Finance PostTotalEnergies tightens emissions targets despite aims to sell more gas
    Next Finance PostFactbox-Energy assets affected by Russia-West standoff and sanctions