(Investing)– India’s oil imports from Russia are expected to drop to 800,000 barrels per day in December, down from 1.9 million barrels per day in November, according to a Bloomberg report on Monday.
The significant reduction comes as Indian authorities have implemented tighter checks at ports and increased banking scrutiny to ensure compliance with Western sanctions on Russian oil. These enhanced measures were reportedly rolled out in recent weeks.
The stricter enforcement measures include increased port inspections of “shadow-fleet” tankers, with the shipping ministry now requiring certificates of origin, flag-registry data, and additional documentation. Banks have also heightened their scrutiny of payment transactions related to Russian oil imports.
The officials noted that all Indian refiners except Rosneft-backed Nayara Energy Ltd. have reduced their imports from Russia. Nayara has actually increased its volumes as European Union sanctions have made it more dependent on Moscow for feedstock.
India’s tightened compliance efforts come as New Delhi attempts to secure a broader trade deal with the United States. In August, the US imposed 50% tariffs on all Indian goods, partly as a response to India’s purchases of Russian oil.
