Indian Oil Corp, India’s main refinery, has resumed oil imports from Russia, purchasing five shipments for December from unsanctioned entities. The information was provided to Reuters by industry sources.
The purchases come as the United States is pressuring international partners to stop Russian crude oil imports.
Indian Oil Corp’s CFO, Anuj Jain, stated that the purchases will continue as long as they do not violate the international sanctions regime.
The European Union and the United Kingdom had previously imposed severe sanctions against Russia, forcing the Kremlin to sell oil at reduced prices. In the last three years, India has become the largest buyer of Russian oil transported by sea.
Last week, the United States announced sanctions against Russia’s two largest refineries, Rosneft and Lukoil. These are the first measures of this kind taken by the administration of President Donald Trump, as part of efforts to increase pressure on Moscow for a potential ceasefire in Ukraine.
