To ensure Russian petrol stations have not only queues and fistfights but something to actually sell, supplies are now being shipped across the Indian Ocean and through the Suez Canal. At least 67,000 tonnes of petrol have been shipped from India to Russia, as Ukrainian strikes on oil refineries have forced one of the world’s largest oil-producing countries to turn to imports.
At the beginning of July, Russian refineries were meeting only about 65% of seasonal petrol demand. A wave of Ukrainian attacks on Russian fuel facilities reduced oil refining volumes in Russia to their lowest level in more than 21 years. In some regions, drivers queued for fuel, petrol stations imposed sales limits, and in occupied Crimea, fuel was not sold to ordinary motorists at all on certain days.
The Russian authorities expect imports, the use of reserves and the completion of refinery repairs to stabilise the market. Read on to find out who has sold Indian petrol to Russia, how much Moscow will pay for it and how much of the shortfall tanker shipments can actually cover.