Approximately five million barrels of Russian oil that were on their way to India have not reached their intended ports, according to a Bloomberg report. The tankers carrying the cargoes of Russia’s Sokol grade crude have been idling at sea, miles away from their destination. The reason for the delay is not clear, but it is speculated that US sanctions on sellers moving Russian crude above the $60 price cap set by G7 nations might have played a role. The US Treasury has already sanctioned eight ships linked to the crude cargoes since October, with six of them owned by Russia’s Sovcomflot PJSC.

One of the vessels, which was headed to the port Vadinar in India, has been idle near Sri Lanka since November 16. Two more Sovcomflot ships heading to the same port have joined it in the past week. Meanwhile, three other ships that were heading to the Paradip port in east India should have arrived by now but have not.

This incident comes at a time when Russia’s weekly oil flows have reached the highest level in five months, according to Bloomberg shipping data. Exports during the seven-day period up to December 10 stood at 3.76 million barrels per day. This increase in oil flows coincides with OPEC+’s commitment to reduce crude production in order to stabilize prices. The group plans to cut production by a total of 2.2 million barrels per day through the first quarter of 2024, with Russia contributing to this reduction.

Oil prices have softened in recent weeks due to a boom in US production and an uncertain demand outlook. On Wednesday, West Texas Intermediate crude rose 1.69% to $75.18 a barrel, while Brent crude, the international benchmark, climbed 1.51% to $80.46 a barrel.