- Refiners have not sought Russian crude for about a week: Fuentes.
- India bought more Russian oil after the invasion of Ukraine of Russia.
- The president of the United States, Trump, warned countries that do not buy Russian oil.
Indian state refiners have stopped buying Russian oil last week as discounts were reduced this month and the president of the United States, Donald Trump, warned countries that they did not buy Moscow oil, industry sources said.
India, the third largest oil importer in the world, is the biggest buyer of the Maritime Russian crude, a vital income of income for Russia, since the war in Ukraine for the fourth year.
The state refineries of the country – Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrachemical LTD – have not sought the Russian crude in the last week more or less, four sources familiar with the plans to buy refiners. Reuters.
The IOC, BPCL, HPCL, MRPL and the Federal Petroleum Ministry did not immediately respond to Reuters’ Requests for comments.
The four refiners regularly buy Russian oil delivered and have resorted to the markets stained for the replacement supply, mostly degrees of the Middle East, such as Murban Crude and Oil of Western Africa of Abu Dhabi, the sources said.
Private refiners Reliance Industries and Nayara Energy, majority of Russian entities, including the largest oil rosneft, have annual agreements with Moscow and are the largest Russian oil buyers in India.
On July 14, Trump threatened 100% of tariffs in countries that buy Russian oil unless Moscow reaches an important peace agreement with Ukraine.
Indian refineries are withdrawing from Russian crude as discounts are reduced to their lowest since 2022, when Western sanctions were first imposed in Moscow, due to the lowest Russian exports and a constant demand, the sources said.
Refinadores fear that EU’s last curbs to complicate trade abroad, including fundraising, even for buyers who adhere to the price limit. India has reiterated its opposition to “unilateral sanctions.”
Trump announced on Wednesday a 25% tariff on the goods imported from India as of August 1, but added that the negotiations were ongoing. He also warned about possible sanctions for the purchase of Russian weapons and oil.
On Monday, Trump reduced the deadline to impose a secondary sanction to Russian export buyers 10-12 days from the previous 50-day period, if Moscow does not agree on a peace agreement with Ukraine.
Russia is the main supplier of India, responsible for approximately 35% of the general supplies of India.
Private refineries bought almost 60% of the average of 1.8 million barrels of India per day of Russian oil imports in the first half of 2025, while state refineries that control more than 60% of the general refining capacity of 5.2 million BPD of India, bought the rest.
Reliance bought the crude ABU Dhabi Murban to load in October this month, an unusual movement of the refining, the merchants said.
