Indian State Refiners Halt Russian Oil Buys

  Published 9 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.

You might like these

Equity Residential: Strong Start to 2025

Kellton Tech Aims to Raise Funds, Expand Globally

Paper Stocks Rally on DGFT Import Floor

Ichikoh, Tata AutoComp Form JV in India

MapMyIndia Integrates Digipin for Digital Addressing

L&T to Build India’s Largest Green H2 Plant

India's Forex Reserves Surge to $690 Billion

News that matters the most ⚡