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Latest sanctions on Russia may cut off access to discounted crude

Govt hopes there will be no shortage, no disruption for 6-8 weeks, say official sources

Russia’s state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on
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While the financial burden may rise, the government doesn't expect a shortage of oil or disruption in flows to India, at least in the next two months.

Subhayan Chakraborty New Delhi

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The spate of latest sanctions on Russian oil and gas entities by the US may cut off India's access to discounted Russian crude oil and force it to buy at market prices, official sources said on Monday. There may not be an immediate disruption, as volumes already in transit would take 6-8 weeks to reach India.
 
"There is no direct impact on us (India). The indirect impact is that the discounts on Russian crude oil that we were getting so far may stop. In that case, we have to buy at market prices. That's the worst case scenario," a senior

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