India's state-run oil refiners are expected to continue importing Russian crude oil through intermediary traders, despite new sanctions imposed by the United States on Russia's major oil companies. These sanctions target firms accused of funding Russia's military activities in Ukraine, but industry sources say Indian public-sector refiners typically buy from independent traders not directly affected by the restrictions. While the private sector, particularly Reliance Industries, may face challenges due to direct contracts with sanctioned Russian companies, state-run refiners are likely to maintain their Russian crude purchases for now. Experts believe the latest measures will have only a limited impact on Russian oil flows to India, as alternative trading arrangements can be quickly established.
Original article source: https://timesofindia.indiatimes.com/business/india-business/trumps-sanctions-on-russian-oil-firms-will-indias-state-run-refiners-continue-imports-why-experts-see-limited-impact/articleshow/124767352.cms
Source Id: 8922303889




