Indian refiners have resumed buying stranded Russian crude after the US Treasury issued a 30-day licence. The move offsets Middle East supply disruptions amid the West Asia conflict, ensuring domestic fuel security while balancing Russian and other sources
Reliance Industries has not bought Russian crude oil in January so far, while state-run refiners increased imports amid heavy discounts, according to data. Overall Russian oil imports into India dipped slightly due to the impact of US and EU sanctions
Reliance Industries halted Russian crude purchases in January as Indian state refiners boosted imports amid steep discounts. IOC and BPCL raised intake, while Nayara Energy continued heavy buying, reflecting shifts driven by sanctions, pricing and evolving supply channels
India’s crude oil imports from Russia dipped slightly in September but still accounted for over 34% of total imports. Despite U.S. pressure, Russian oil remains cost-effective for Indian refiners, who are slowly diversifying without reducing dependence significantly
