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Sanctioned Russian tanker in limbo shows India’s oil dilemma
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Indian Oil Corp. has a mooring facility and Nayara Energy, which counts Rosneft as its single largest shareholder, has a refinery.
A Nayara Energy spokesman said the cargo didn’t belong to the refiner. Indian Oil didn’t immediately comment on the cargo or the delivery.
India’s Directorate General of Shipping said last week it was awaiting instructions from the government as to whether the ship would be allowed to unload its cargo. The US recently sanctioned five vessels for using Western services for the transport of oil that cost more than $60 a barrel, a price cap imposed by the Group of Seven nations.
The ships include NS Century. Milestone Alert!
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