India is quietly shifting back to Middle Eastern crude as US sanctions disrupt Russian oil flows, Christof Rühl, Global Advisor at Crystol Energy, told CNBC-TV18.
Rühl said India has already begun renting ships from the Middle East to replace a part of its Russian crude imports, signalling that substitution is happening on the ground even as political messaging from New Delhi remains broad.
The US sanctions on Russian oil firms Rosneft and Lukoil took effect today, creating uncertainty for nearly 48 million barrels of Russian crude currently at sea. Many of these shipments were headed towards India and China but are now searching for alternative…
