NEW DELHI/MOSCOW: India’s Reliance Industries, operator of the world’s biggest refining complex, will not buy Russian oil loaded on tankers operated by shipper Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter.
The development adds to oil export problems for Russia as its oil firms may face difficulties finding ships to sell surplus oil after recent Ukrainian drone attacks on the state’s refineries. Russian companies are already struggling to collect payments for oil exports due to banking restrictions.
