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2025-10-30 18:01:07
[US Sanctions Trigger Chain Reaction: Russian Naphtha Cargo Ship Stranded Off Indian Waters] ⑴ A cargo ship carrying Russian naphtha has been stranded off the coast of Mundra Port in India since October 26, unable to unload its cargo. ⑵ The ship is carrying 40,000 tons of naphtha. US sanctions against two key suppliers have disrupted India's energy import system. ⑶ Indian refiners are preparing to significantly reduce their imports of Russian oil, after their exports to the US were subject to a 50% tariff. ⑷ India is the second-largest buyer of Russian naphtha, importing approximately 170,000 tons in September, mainly for chemical feedstock. ⑸ Apart from the stranded cargo ship, all Russian naphtha cargoes were delivered in September, indicating a disruption in the supply chain. ⑹ The cargo was loaded from the Russian port of Ust-Luga; the identities of the buyer and seller are unclear. ⑺ HPCL-Mittal Energy, the operator of Mundra Port, has announced a halt to the purchase of Russian crude oil. ⑻ Sources at the company have explicitly stated that they will no longer trade with any sanctioned entities and that current inventories are sufficient. (9) In October, the loading volume of naphtha from Russian ports to India reached 185,000 tons, most of which are still en route.
