India has declined Russia's offer to sell it liquefied natural gas subject to U.S. sanctions despite a shortfall driven by Middle East tensions, said two sources with direct knowledge of the matter, leaving a tanker bound for India in limbo as talks continue on permitted cargoes.
The stance highlights the fine balance the world's third-biggest oil importer and consumer is seeking to strike between securing energy supplies and avoiding LNG cargoes on which the U.S. has placed sanctions, which are harder to disguise and carry greater compliance risk. It also underscores the limits of Moscow's ability to pivot its LNG exports to new markets.
