Russia’s Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp (IOC), the country’s top refiner, two traders familiar with the matter told Reuters on Friday. Rosneft allocated seven cargoes of 100,000 tonnes each loading between May 15 and 31 to IOC, according to the traders. In May IOC will load Rosneft-sourced Urals oil volumes from Baltic ports for the first time. Previously the major buyers of the cargoes were trading firms Vitol and Trafigura. However, international traders will stop purchases of oil from Rosneft after May 15 as EU sanctions over several Russian companies come into effect. read more Last December IOC and Rosneft signed a term contract for supply of up to 2 million […]