Urals crude differentials to dated Brent held steady on Monday, as traders eyed the impact of new European sanctions on Russian oil supply.
Britain on Monday imposed new sanctions on Russia's so-called "shadow fleet," targeting 135 oil tankers along with two Russian firms, shipping company Intershipping Services and oil trader Litasco Middle East.
On Friday, the EU approved its 18th package of sanctions against Russia, which includes sanctions on Russia-backed Indian refiner Nayara Energy.
Nayara Energy on Monday condemned the European Union's sanctions on it and said it was exploring legal options against the latest "restrictive measures."
Indian private refiners that have leveraged cheap Russian crude to boost margins will be forced to find workarounds and rely more on traders to find new markets for their products after the latest round of sanctions, traders and industry sources said.
No bids or offers were made for Urals, Azri BTC or CPC Blend in the Platts window on Monday.
China's imports of crude oil from Russia fell one per cent in June from a year earlier to 8.35 million tonnes or 2.03 million barrels per day, Chinese customs data showed on Sunday.
(Reporting by Reuters; Editing by Mark Porter)