Market Outlook
Press

Russia working to circumvent sanctions to ensure India oil imports continue

Cross BarrelCrudeDistillateFreightFuel OilGasolineJetNaphtha
Analyst briefsChart packsDeep divesEventsOpinionsPodcastsPressWebinarsWhitepapers
Published20 MAR 26 - 13:55 Reading time  minutes

He was echoed by June Goh, a senior oil market analyst for Sparta Commodities. “The discount is just too attractive for the Indian refiners not to buy the oil,” she said. Goh said this expectation had also been reflected in the response from the global oil market. “Initially, when things blew up, we saw oil prices rising quite significantly,” she said. “However, we have now seen prices falling off. The market just doesn’t believe that this sanctions enforcement will likely take place in a big way.”

Reuters, Jan 13, 2026 – US sanctions briefly slowed India’s Russian crude imports, but the market expects flows to recover as Russia restructures supply chains using new intermediary exporters. Discounts on Russian barrels remain deeply attractive versus Middle Eastern grades, reinforcing Indian refinery demand and limiting upside risk to flat prices. The market reaction suggests low confidence in sustained enforcement, keeping bearish pressure on crude despite geopolitical headlines.

Author

James Noel-Beswick

Commodity Owner

Rate this article

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

Continue reading

  • New
  • Press

Asian refineries slash output as Iran crisis chokes crude supplies

“What happens if you pay for this exorbitantly expensive crude and then peace breaks out tomorrow...

20 MAY 26 - 15:32

  • New
  • Press

Oil prices flat as Trump’s plan for Strait of Hormuz fails to calm market

“Global observable oil inventories are starting to fall sharply, which should weigh on market...

20 MAY 26 - 15:24

  • New
  • Deep dive
  • Freight

Atlantic Basin MR CPP Market Report

TC14 and TC2 rates under pressure due to tonnage supply but cargo econs remain supportive.

20 MAY 26 - 11:38

  • New
  • Analyst brief
  • Distillate

Potential downside on 0.5 EW, VGO very strong

10 ppm diesel E/W has rallied sharply recently. However, WCI barrel arb economics pointing East and...

20 MAY 26 - 11:03

subscribe_cta_image

Real time alerts, set to your specifications

Subscribe