By bno Chennai bureau India’s energy security remains steady despite new US sanctions targeting Russia, Indian Oil Corporation (IOC) Chairman Arvinder Singh Sahney said during an interview with ANI at the World Economic Forum in Davos.

The recent implementation of new US sanctions on Russian oil producers, tankers, and insurers has created a disruption in the supply chain.

NEW DELHI (Reuters) - Middlemen supplying Russian oil are not offering cargoes due to new U.S. sanctions targeting Russian producers, tankers and insurers, according to the finance chief at Indian refiner Bharat Petroleum.

The wide-ranging sanctions imposed by the U.S. on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd. (BPCL) saying not enough cargoes are available for March.

India has allowed Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to Indian ship regulator's website, as New Delhi wants steady supply of cheaper Russian oil despite latest U.

Crude oil purchases by Indian Oil Corp. may shift as the new US sanctions on Russia affect supplies from Moscow, pushing the South Asian country’s biggest refiner to seek alternatives.