Russia has exported at least 3.7 million tonnes of all maritime Ural supplies to India through the ports of Primorsk, Ust-Luga and Novorossiysk in November, Reuters calculations based on data from Refinitiv and traders showed on Tuesday.
India accounted for about 53% of Russian Ural oil shipments – a record-high share of total tanker Ural shipments in November, Reuters calculations showed.
Ural sea shipments to Turkey fell last month to 0.7-0.8 million tonnes against 1.3 million tonnes in October.
The total volume of Ural oil shipments from Russian ports, excluding volumes transiting Kazakhstan, decreased in November as sanctions neared, which barred the European Union from buying Russian marine crude after December 5.
Ural exports through the Baltic ports at Primorsk and Ust-Luga totaled 6 million tonnes in November, after 6.4 million tonnes in October, according to traders.
Ural and Siberian light oil loadings from the Black Sea port of Novorossiysk were due to decline to 2.47 million tonnes in November versus 2.84 million tonnes in October, but stormy weather has caused actual shipments to fall below plan.
Traders and shipbrokers estimate that Novorossiysk will export 1.95 million tonnes of crude oil in November.
The Group of Seven price cap on Russian marine oil came into force on Monday.
The Kremlin said Russia “will not accept” a cap on its oil price and was analyzing how to respond.