- Refineries have not searched Russian crude oil for about a week: sources.
- India bought more Russian oil after Russia’s Ukraine invasion.
- US President Trump has warned the countries not to buy Russian oil.
Indian state refineries have stopped buying Russian oil in the last week when discounts narrowed this month and US President Donald Trump warned the countries not to buy Moscow oil, the industry sources say.
India, the world’s third largest oil importer, is the largest buyer of lake -cut Russian crude oil, an important revenue revenue for Russia as it waging war in Ukraine for a fourth year.
The country’s state refineries – Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd – Haven’t Searched Russian Raw Reuters.
IOC, BPCL, HPCL, MRPL and the Federal Oil Ministry did not immediately respond to Reuters’ Requests for comment.
The four refineries regularly buy Russian oil on a delivered basis and have approached to spot markets for supply of supply – mostly Middle Eastern qualities such as Abu Dhabis Murban Raw and West African oil, sources say.
Private refineries Reliance Industries and Nayara Energy, a majority owned by Russian units, including Oil Major Rosnft, have annual agreements with Moscow and are the largest Russian oil buyers in India.
On July 14, Trump threatened 100% tariffs for countries buying Russian oil unless Moscow reaches a major peace deal with Ukraine.
Indian refineries withdraw from Russian crude oil as discounts shrink to their lowest since 2022, when Western sanctions were first introduced in Moscow due to lower Russian exports and constant demand, sources say.
Refineries fear that the latest EU edge stone can complicate overseas trade, including money collection – even for buyers complying with the award. India has repeated its opposition to “unilateral sanctions”.
On Wednesday, Trump announced a 25% duty on goods imported from India from August 1, but added that the negotiations were underway. He also warned of potential sanctions for the purchase of Russian weapons and oil.
On Monday, the Trump cut the deadline to impose secondary sanction on buyers of Russian exports to 10-12 days from the previous 50-day period if Moscow does not agree with a peace agreement with Ukraine.
Russia is the top supplier to India, which is responsible for approx. 35% of India’s total supplies.
Private refineries bought almost 60% of India’s average 1.8 million barrels per year. Day with Russian oil import in the first half of 2025, while state refineries controling over 60% of India’s total 5.2 million BPD refining capacity bought the rest.
Reliance bought Abu Dhabi Mnan crude oil for loading in October this month, an unusual step from the refinery, dealers said.
