Tankers carrying Russian oil have ceased indicating India as their final destination following the imposition of 25 per cent US duties on Indian goods linked to oil imports, reports Moscow’s EurAsia Daily.
The last vessel to list India was the Ursus Maritimus, which departed Primorsk on August 20 and is due to arrive at Mundra on September 16. As of August 27, when the duties took effect, the tanker had entered the Bay of Biscay. It is carrying up to 113,000 tonnes of oil.
Subsequent tankers from Baltic and Black Sea ports now only list transit points such as the Strait of Gibraltar and the Suez Canal. The US claims the duties target India’s purchase of Russian oil, which accounts for 40 per cent of its imports.
Bloomberg reports Indian refiners plan to reduce Russian oil purchases in the coming weeks, though Reliance Industries and others still expect to import 1.4 to 1.6 million barrels per day from October.
Prime Minister Narendra Modi criticised the duties as “economic selfishness,” saying India would resist pressure and prioritise domestic interests, especially in agriculture and small business.
Foreign Minister Subrahmanyam Jaishankar said the US scrutiny of India’s oil imports does not extend to China or the EU. He confirmed there is no directive to halt Russian oil purchases, and India will continue making strategic energy decisions.
The new tariffs raise total US duties on Indian goods to 50 per cent, affecting US$60 billion in annual exports. Analysts estimate India saved $17 billion by importing Russian oil since 2022, but the new duties could cut exports by 40 per cent, or $37 billion, this fiscal year, according to the Global Trade Research Initiative.
