Seatrade Maritime News: Russian oil sector under siege as EU ramps up pressure and India winds down imports

February 9, 2026 According to New York broker, Poten & Partners, India bought more than 60% of its crude oil from suppliers in the Middle East prior to 2022. They included Saudia Arabia, Iraq, the UAE, and Kuwait as well as other suppliers in West Africa, the US, and Brazil. In its latest report, Poten suggests that the US-India trade deal could involve more crude from the US and also, in a recent deal between India’s Reliance Industries and Vitol, two million barrels of Venezuelan crude for April delivery. India is relatively well-placed to find alternative sources of crude, but Russia will struggle to find takers for its spare capacity.

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