Moscow/New York: Despite the imposition of sanctions on Russia in response to the Ukrainian invasion, the United States reportedly imported Russian oil valued at $2.7 million in October and $749,500 in November of the previous year, as per a report by Russian state-owned Sputnik Globe news.
Citing US Customs data, the report disclosed that the US received 36,800 barrels of Russian oil in October and 9,900 barrels in November 2023. These imports were facilitated through specific licenses granted by the US Treasury Department’s Office of Foreign Assets Control (OFAC), the entity responsible for sanction enforcement.
As of now, Washington has not issued any official response to the claims outlined in the report.
In the aftermath of the Ukraine invasion, the US had implemented a ban on the importation of oil, gas, and other energy resources from Russia, in addition to imposing sanctions targeting Russian individuals, entities, and sectors in March 2022.
The report also asserted that the US paid a premium for Russian oil, exceeding the “price cap” of $60 per barrel, a limit set by the US, the EU, and Australia in 2022.
In October, one barrel of Russian crude cost $74, while the price increased to $76 in November.
The price cap was part of a collaborative effort in 2022 by G7 nations, including the US, EU, and Australia, aimed at restricting Moscow’s income from oil exports in response to Russia’s actions in Crimea and Ukraine. Companies from G7 nations were prohibited from providing transportation, insurance, and financial services for Russian oil sold above the specified cap, varying for different petroleum products.
Not an isolated incident
This incident is not the first time that Russian crude has allegedly entered the American markets.
In November last year, a report by The Washington Post exposed the flow of banned Russian oil into the US military’s supply chains. This was primarily attributed to a Greece-based supplier, Motor Oil Hellas refinery, which had been receiving and refining crude of Russian origin.
Analyzing shipping data, the report identified Russian oil that had changed hands at the Greek refinery, indicating the source of fuel. After being shipped to Dortyol, a storage terminal in Turkiye, the crude was no longer marked as Russian. Motor Oil Hellas then refined and supplied it to the US military.
Meanwhile, since 2022, India has increased its imports of Russian crude, totaling approximately 69.06 million metric tons of Russian oil, equivalent to 1.85 million barrels per day, between January and September last year, according to commerce ministry data.
However, in recent months, India’s oil imports from Moscow have been declining. New Delhi purchased 1.45 million barrels per day of Russian oil last month, marking its lowest since January and a nearly 16 percent decrease from November of the previous year, as reported by the global energy trade intelligence platform Kpler.
