Indian State Refiners Halt Russian Oil Buys

  Published 11 months ago

Indian state refiners paused Russian oil purchases as discounts shrank and Trump warned of tariffs over Moscow-linked imports.

  • IOC, BPCL, HPCL, and MRPL skipped Russian crude in the past week, shifting to Middle Eastern and African alternatives.
  • U.S. President Trump threatened 100% tariffs on Russian oil buyers, pressuring global importers amid Ukraine tensions.
  • Private players like Reliance and Nayara continue buying Russian oil, but state refiners hold over 60% market share.

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