Reported 2 days ago
Indian state refiners have ceased buying Russian oil due to narrowing discounts and warnings from the U.S. against such purchases. As the world's third-largest oil importer and a major buyer of seaborne Russian crude, India's refiners, including Indian Oil Corp and Bharat Petroleum, are now sourcing oil from spot markets, primarily in the Middle East and West Africa. Recent statements from U.S. President Trump regarding tariffs on Russian oil and potential sanctions have heightened concerns among the refiners, as they navigate a complex geopolitical landscape.
Source: YAHOO