India’s leading refiner, Indian Oil Corp, has started buying Russian oil again, but now only from companies that have not been hit by sanctions. This is reported by Reuters with reference to sources.
According to the agency, we are talking about deliveries of about three and a half million barrels of ESPO oil. Who exactly became the seller, the interlocutors did not specify.
Earlier, Indian Oil Corp recalled several batches of Russian oil after the introduction of new US sanctions because they were supplied by subsidiaries of companies that were under restrictions.
On 22 October, the US Finance Ministry announced the imposition of sanctions against the largest exporters of Russian oil – Lukoil and Rosneft. The restrictions affected the companies themselves and more than 30 subsidiaries.
After that, India’s largest refineries suspended new orders for Russian oil, waiting for clarification from the government and suppliers on the legality of further deliveries. According to Reuters, China’s state-owned oil companies have also temporarily suspended purchases of Russian oil.