New Delhi: Despite imposing sanctions on Russia over its invasion of Ukraine, the United States imported Russian oil worth $2.7 million and $749,500 last October and November, respectively, a report by Russian state-owned Sputnik Globe news has claimed.
The report, citing US Customs data, claimed that the US imported 36,800 barrels of Russian oil in October and 9,900 barrels in November last year. These imports were made possible by specific licences granted by the US treasury department’s Office of Foreign Assets Control (OFAC), which is responsible for enforcing sanctions.
Washington is yet to comment on the claims made in the report.
Following the invasion of Ukraine, the US had in March 2022 imposed a ban on import of oil, gas, and other energy resources from Russia, besides imposing sanctions targeting Russian individuals, entities, and sectors.
The report also claimed that the US had to pay a much higher price for Russian oil than the “price cap” of $60 per barrel, which Washington and its European allies had set in 2022.
In October, one barrel of Russian crude cost $74, while it cost $76 in November.
This price cap was part of a coordinated effort in 2022 by G7 countries, such as the US, EU and Australia, among others, to hinder Moscow’s income from its oil exports, in response to Russia’s annexation of Crimea and invasion of Ukraine. Companies from G7 nations were prohibited from providing transportation, insurance, and financial services for Russian oil sold above the $60 per barrel cap. These caps varied for different petroleum products, with diesel capped at $100 per barrel and discounted fuel oil at $45 per barrel.
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Not first-off incident
This is not the first time it has been found that Russian crude is entering American markets.
A report by The Washington Post in November last year revealed that banned Russian oil was flowing into the US military’s supply chains, primarily due to a Greece-based supplier Motor Oil Hellas refinery, which has been receiving and refining crude of Russian origin.
Looking at shipping data, the report identified Russian oil that changed hands as the Greek refinery’s source of fuel. This crude oil from Moscow was first shipped to Dortyol, a storage terminal in Turkiye, before reaching Greece. As the fuel was no longer marked as Russian, Motor Oil Hellas refined and supplied it to the US military, it added.
Meanwhile, since 2022, India has increased its imports of Russian crude, importing roughly 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day (bpd), between January and September last year, based on commerce ministry data.
However, over the past few months, its oil imports from Moscow have been on a decline.
New Delhi bought 1.45 million barrels per day of Russian oil last month — hitting its lowest since last January and down nearly 16 percent from November last year, according to global energy trade intelligence platform Kpler.
(Edited by Richa Mishra)
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