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Finance

New US sanctions on Russian tankers to hit oil supplies to India, refining sources say

Published by Global Banking and Finance Review

Posted on January 10, 2025

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By Nidhi Verma

NEW DELHI (Reuters) - Indian firms see a major disruption of Russian oil supplies as Washington imposes new sanctions to curb Moscow's revenues, pushing refiners to scout for crude from the Middle East and the U.S., three Indian refining sources said on Friday.

The sources said they understand that the new U.S. sanctions would target more than 180 tankers shipping Russian oil and Russia-based maritime insurance service providers Ingosstrakh Insurance Company and Alfastrakhovanie Group.

(Reporting by Nidhi Verma; Editing by YP Rajesh)