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According to Bloomberg report, three consignments of highly restricted Arctic oil and at least two goods from Sakhalin Island are currently being sent to India on tankers on 10 January by the US Finance Ministry. Arctic oil consignments are moving towards the ports of South Asia, while the goods from Sakhalin Island are spending some time on American-listed ships in the Pacific region before reaching India. India has said that the banned tankers loaded before January 10 will be given entry into its ports only when they reach before 27 February. However, all five consignments picked up their goods after 10 January. Moscow ‘ability to maintain oil production levels will depend on its success in bypassing American restrictions and continuing the flow of barrels.
US President Donald saw a warning from requesting to convince the serus, to bring on the path of peace talks. But Russia did not bother with its decision. Trump, sometimes putting tariffs, sometimes giving a statement about targeting Russia’s friends, sometimes he was getting his colleagues like his NATO and EU. But neither Russia made any difference nor India made any ban on buying oil from Moscow. Now Bloomberg has reported in its report that Russia has continued to send crude oil goods to India on tankers banned by the US. The situation presents an important test of Moscow’s ability to ignore the stringent restrictions implemented by Washington earlier this month.
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According to Bloomberg report, three consignments of highly restricted Arctic oil and at least two goods from Sakhalin Island are currently being sent to India on tankers on 10 January by the US Finance Ministry. Arctic oil consignments are moving towards the ports of South Asia, while the goods from Sakhalin Island are spending some time on American-listed ships in the Pacific region before reaching India. India has said that the banned tankers loaded before January 10 will be given entry into its ports only when they reach before 27 February. However, all five consignments picked up their goods after 10 January. Moscow ‘ability to maintain oil production levels will depend on its success in bypassing American restrictions and continuing the flow of barrels.
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If Russia fails to deal with these restrictions, this year the global oil market can go into losses, as it will reduce the expectation of a small surplus. Bloomberg observed the shipment and calculated the rolling average of the four-week, which showed very little changes in seven days ended January 26. This indicates that Russia’s oil flow has not decreased since the remedies were implemented by the US Treasury’s Foreign Property Control Office.
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