Indian Oil Resumes Buying Russian Crude From Non-Sanctioned Suppliers
Jamnagar Refinery in Gujarat, India — The world’s largest oil refinery complex, owned and operated by Reliance Industries, illuminated at night. Date: 23 March 2006 Author: Reliance Industries Source: Forbes India License: Creative Commons Attribution-Share Alike 4.0 International
India’s state-owned refiner, Indian Oil Corporation (IOC), has resumed purchasing Russian crude from suppliers not subject to Western sanctions, Orda.kz reports, citing Reuters.
According to the agency, IOC bought five cargoes of Russian oil for December delivery from non-sanctioned entities.
The company said it will continue importing crude from Russia as long as the suppliers and shipments remain in compliance with sanctions.
Earlier, the IOC canceled seven to eight cargoes following sanctions imposed by U.S. President Donald Trump, as the shipments were linked to Rosneft and Lukoil subsidiaries.
Reports had also surfaced that India was reviewing contracts for Russian oil imports.
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