New sanctions on tankers and implications for China and India's oil imports

Oil Markets

The recent expansions of the US Office of Foreign Asset Control (OFAC) vessel sanction list have sent shockwaves throughout the tankers and crude oil markets, raising questions about potential shifts in crude import strategies for China and India. Market participants are closely monitoring the extent to which Iranian and Russian crude exports may be disrupted, how major importers like China and India are adapting, and how sanctions may evolve under the new US administration.

In this episode, Benjamin Tang, liquid bulk team lead at S&P Global Commodities at Sea, is joined by Yen Ling Song, associate director for S&P Global Commodities at Sea, and Sameer Mohindru, senior editor for shipping and freight at S&P Global Commodity Insights to discuss the implications of the latest US sanctions targeting Russia’s oil tanker fleet and their far-reaching effects on global oil markets.