Reuters reports that India has given Russian ships new safety certifications as Western companies withdraw their services amid sanctions. The move covers dozens of ships managed by the Dubai arm of Russian group Sovcomflot. India has snapped up massive volumes of cheap Russian crude since the war in Ukraine began. Loading Something is loading.
India is furnishing Russian oil tankers with new safety certifications that will allow Moscow to continue exporting crude, after Western companies withdrew their services amid Western sanctions, according to Reuters.
The Indian Register of Shipping, one of the world’s top classification companies, has certified more than 80 ships managed by the Dubai-based subsidiary of Russian shipping group Sovcomflot, data cited by Reuters showed.
The new paperwork will allow cheap crude to keep flowing to India and elsewhere, as the South Asian country has become one of the top importers of Russian oil since Moscow launched its invasion on Ukraine.
The report comes as certifiers from the US, UK, Norway, and France, have halted services for Russian cargoes due to sanctions. Typically, classification groups certify that ships are safe to travel, which allows them to be granted insurance and gain access to ports.
Since the war began, India has avoided condemning Moscow’s actions while ramping up purchases of Russian energy supplies on the cheap.
Last month, Russian crude accounted for roughly 16.5% of India’s total oil imports, compared to roughly 1% in all of 2021. And since February, India has bought over 40 million barrels of Russian oil, which is more than it did through all of last year.
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