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Indian state refiners pause Russian oil purchases in wake of Trump warning

15 9
01.08.2025

Indian state refiners have stopped buying Russian oil in the past week as discounts narrowed this month and United States President Donald Trump warned countries not to purchase oil from Moscow, industry sources said.

India, the world’s third-largest oil importer, is the biggest buyer of seaborne Russian crude, a vital revenue earner for Russia as it wages war in Ukraine for a fourth year.

The country’s state refiners — Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL), Bharat Petroleum Corp (BPCL) and Mangalore Refinery Petrochemical Ltd (MRPL) — have not sought Russian crude in the past week or so, four sources familiar with........

© Dawn Business