India has emerged as a top destination for Venezuelan and Iranian crude amid US sanctions, supporting demand for large crude tankers.

The world’s third-largest oil consumer has been able to leverage its geopolitical stance, soaking up cheap barrels from Venezuela and Iran as the two ­exporters struggle to find buyers.

“India has always tried to run its own independent foreign policy,” Banchero Costa head of research Ralph Leszczynski told TradeWinds.