Moscow, We Have A Problem

6 Feb 2026: The potential impact of the U.S. – India trade deal The U.S. – India trade deal that was announced on Monday, February 2^nd, will have a significant impact on the oil and tanker market.  The element that received the most attention in our industry, is the apparent promise that India will stop importing Russian crude.  In exchange, the U.S. will cut tariffs on Indian goods from 50% to 18%.  Indian refiners have benefited from buying discounted Russian barrels since 2022, when Russia invaded Ukraine.  Prior to 2022, India bought very little Russian oil, and replacing these volumes will not be a major problem, especially if there is some transition period.  For Russia, however, the situation is very different.  Due to the sanctions imposed on Russia after the invasion of Ukraine, they only have three large customers left.  China, India and Turkey combined are the destination of more than 90% of Russia’s seaborne crude oil exports.  In this Tanker Opinion, we will discuss the potential implications for the tanker market of these developments. Please fill out the form to read the article