Deputy Minister Of Energy Rusi Considers US Sanctions Not Affecting Oil Imports To India

JAKARTA - Russia's first Deputy Energy Minister Pavel Sorokin said US sanctions against Russia should not affect Moscow's oil trade with India. For him it is too early to assess the impact of the latest restrictions.

India became the largest buyer of Russian marine oil to be sold at a discount after Western countries imposed sanctions on Moscow and restricted their energy purchases in response to Russia's invasion of Ukraine by 2022.

Last month, Washington imposed further sanctions, targeting Russian oil supply chains, causing tanker transport rates to soar as several buyers and ports in China and India avoid sanctioned vessels.

"Our relationship with India is based on economic pragmatism," Sorokin said at the India Energy Week conference.

"We believe energy trading should not be hindered by any politics," he continued.

Sorokin said it was too early to measure the impact of the latest US sanctions.

You can't assess the situation based on data for a few weeks. It takes more time to assess these things, but we believe that a constructive relationship will continue to work," he said.

Russian supplies to India fell in December and January from the previous six months.

India Oil Corp. the country's largest distillation, last month said it was facing a potential decline in Russian oil imports in the fiscal year ending March 31, following the US's latest sanctions against Moscow.