Insta
Indian PSUs Deal A Blow To China: State Oil Companies Ban Usage Of Chinese Tankers
Oil Tanker (Representative Image) (Danny Cornelissen/Wikimedia Commons)
Indian Public Sector oil companies have announced that henceforth they will not be chartering tankers from Chinese owned or operated companies even if they are registered under the flag of a third country, Times of India has reported.
This boycott is part of India's economic retaliation against China for its unprovoked aggression along the Line of Actual Control (LAC) in Eastern Ladakh.
The state oil companies already follow a scheme for favouring Indian tankers wherein they get a first right of refusal if they match the bid of any foreign tanker. The Chinese tankers will now be totally excluded from this tendering process.
The report adds that India's oil traders are also planning to ask their sellers to not ship the oil on Chinese vessels.
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