Oil refiners in India — eager to keep importing cheap crude from Russia — are working with merchants, shippers and other middlemen to rebuild supply chains as tougher U.S. sanctions come into effect.
Speaking on the sidelines of India’s flagship energy gathering in Delhi, executives said the existing networks were being reconfigured with selling entities, tankers and insurance providers that are not on Washington’s blacklist. Some are existing outfits that have not been impacted by the punitive measures, while others are newly created, replacing those now off-limits, they said.
The executives, all directly involved in the trade, asked not to be named as they are not allowed to speak publicly.
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