Traders are increasingly using tankers to store Russia's Urals crude as demand weakens and customers weigh growing sanctions ‍risks, Reuters calculations based on ‍LSEG and trade data show.

Major importers India and Turkey have cut ​purchases since the end of the last year amid tougher Western sanctions, including recent U.S. measures on ⁠Rosneft and Lukoil and a European Union ban on fuel produced from Russian crude. Prices for Russian ⁠oil have ‌sunk to record lows.

A growing number of tankers waiting to discharge cargoes has tightened vessel availability for shipping Russian oil, shrinking an already limited pool ⁠of tonnage, traders said.

Several tankers carrying Urals are deliberately slowing their voyages as they sail without confirmed buyers and seek to secure deals en route, according to traders and LSEG data.

Based on LSEG terminal data and Reuters estimates, around 19 million barrels ⁠of Urals loaded before December 15 ​are awaiting discharge or remain in transit.

Extended pauses during voyages are effectively turning some tankers into floating storage, traders ‍said, though LSEG data show that not all vessels remain stationary throughout the waiting period.

Under normal conditions, shipments of ​Urals from Russia's Baltic ports take around 45 days to reach China and about 30 days to arrive in India, but many vessels are now taking significantly longer.

One example is the Gattaca, a Panama-flagged tanker managed by Greece-based Star Marine Management. It left the Baltic port of Primorsk on November 21 carrying around 100,000 metric tons of Urals bound for India but has yet to reach its destination.

LSEG data shows it has been at sea for more than 60 days, including around a month off the coast of Oman.

Star Marine Management did ⁠not respond to a request for comment.

Prolonged idle time for ‌loaded tankers is sharply increasing sellers' costs and pushing freight rates higher as slower turnaround reduces vessel availability, traders said.

Freight rates for shipping Urals from western Russian ports to India ‌resumed their ⁠climb in January amid tightening supply of tonnage, heightened shipping risks and storm disruptions in the Black ⁠Sea, sources said.

(Reporting by Reuters in Moscow. Editing by Mark Potter)