India developed new financial mechanisms to continue procurement Russian oil against the backdrop of tightening US sanctionsthe publication reports Bloomberg with reference to informed sources.
As noted, in recent weeks, Indian banks and lenders have actually stopped before conducting any transactions related to Russian cargo, fearing the consequences of the introduced Washington restrictions. Even supplies that were not related to companies on the sanctions list were under threat.
Now, according to sources, financial institutions in India have introduced a scheme that allows oil refineries pay for oil imports from suppliers not officially subject to sanctions. Calculations can take place in dirhams And yuanwhich reduces the risk of payment blocking.
At the same time, each transaction is subject to more stringent verification, which may lengthen the process of booking supplies, but allows maintaining a significant part of Russian flows into the Indian market. Banks are seeking to minimize the likelihood of payments being subject to secondary sanctions or freezes, which can lead to costly disputes and supply chain disruptions.
Nevertheless, Indian refineries continue to exercise caution: any indirect intersection with companies under restrictions remains a serious risk. This is especially important given the growing pressure on global energy markets and India’s dependence on a stable supply of raw materials.
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