CURRENTLY ON AIR ⇒
  • Newspaper Headlines
    Mon, 6:45 am - 7:00 am
    [ - ]

feedback@radioislam.org.za

Radio Islam Logo


((( Listen Live )))))
Radio Islam Logo


How Are Western Sanctions Impacting Oil Supply To India?

Apr 28, 2022

Russia offers India big discount on purchase of 15 million barrels of oil |  Latest News India - Hindustan Times

 

By: Zahid Jadwat

 

As the Russian economy is squeezed by an array of sanctions imposed by Western allies of Ukraine, Indian oil companies face a headache sourcing oil and gas.

 

Several Indian companies including the Oil and Natural Gas Corp (ONGC) have stakes in Russian oil and gas assets. India has been buying more Russian crude since Moscow invaded Ukraine.

 

However, ONGC is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East due to Moscow’s increasing difficulty to ship the Russian grade known as Sokol, which requires vessels that can break through ice.

 

This is because shippers are concerned about reputational risk and the increasing difficulty for Russian assets to find insurance coverage.

 

“The problem here is not so much about finding a vessel. The problem is what happens when you violate those international sanctions,” said foreign policy analyst Sanusha Naidu.

 

In an interview on Radio Islam, Naidu highlighted the politics behind the situation as well.

 

“The challenge is that the sanctions are hurting countries like India; who have essentially been… challenged by the countries that have imposed sanctions — particularly the U.S. [which are] saying to the Modi government: ‘you guys have to decide whether you are going to be upholding the sanctions or are you going to allow Russia a loophole here, she said.

 

“That has been the dilemma for the Modi government because there is this long-standing relationship with Russia, and I think India has also tried to show that it follows an independent foreign policy,” she said.

 

“The bigger global dynamics here are the value chain and the logistics and transport hub. One of the challenges that India does face, apart from the Black Sea militarised, it’s also the question of whether container fleets can move.”

 

Listen to the full interview here:

 

ADVERTISE HERE

Prime Spot!!!

Contact:
advertisingadmin@radioislam.co.za 

Related Articles

74 Years Later… Palestinians Still Await Freedom

74 Years Later… Palestinians Still Await Freedom

By Umamah Bakharia On the 74th anniversary of the Nakba (catastrophe), South Africa held marches both in Cape Town and Johannesburg to highlight the suffering of the people of Palestine by an oppressive apartheid Israel. Over this period, Israeli forces have carried...

read more
UN Envoy Urges Mauritania To Enforce Anti-Slavery Law

UN Envoy Urges Mauritania To Enforce Anti-Slavery Law

  By: Zahid Jadwat   A United Nations (UN) human rights expert has urged the authorities in Mauritania to take immediate steps to enforce anti-slavery laws.Following a visit to the West African country, UN Special Rapporteur on contemporary forms of slavery...

read more
Operation Dudula To Launch Cape Town Branch

Operation Dudula To Launch Cape Town Branch

  By: Zahid Jadwat   The vigilante Operation Dudula movement, which has defended its raids on foreigners' stores as an attempt to uphold South Africa's immigration laws, will launch yet another branch - this time in Cape Town - on Saturday (May 14).  ...

read more
NMB Municipality: Taps Could Run Dry Within A Month

NMB Municipality: Taps Could Run Dry Within A Month

  By: Zahid Jadwat   The Nelson Mandela Bay Municipality in the Eastern Cape announced on Friday that the city's taps will run dry in a month. This brings the city's 1.3 million inhabitants closer to a humanitarian emergency.According to the Democratic...

read more

Subscribe to our Newsletter

0 Comments

Submit a Comment

Your email address will not be published.