As the new US sanctions law officially comes into effect and the risk of imposing punitive tariffs on countries that buy Russian crude oil rises, Indian refiners that ship crude oil in November may cut purchases of Russian crude oil. As the world's third-largest importer of crude oil, India's crude oil imports from Russia in recent months once accounted for more than half of total imports to cope with high oil prices and continued supply disruptions in the Middle East. However, according to people involved in related discussions, in the past few days, India's major refiners have begun to seriously search for alternative oil products. As discussions were not made public, these individuals declined to be named. People familiar with the matter said that in order to get rid of the status of the largest buyer of Russian marine crude oil, New Delhi may limit the share of Russian crude oil imports to 20% to 30% of India's total imports in the short term. Meanwhile, India will continue negotiations with the US.

As the new US sanctions law officially comes into effect and the risk of imposing punitive tariffs on countries that buy Russian crude oil rises, Indian refiners that ship crude oil in November may cut purchases of Russian crude oil. As the world's third-largest importer of crude oil, India's crude oil imports from Russia in recent months once accounted for more than half of total imports to cope with high oil prices and continued supply disruptions in the Middle East. However, according to people involved in related discussions, in the past few days, India's major refiners have begun to seriously search for alternative oil products. As discussions were not made public, these individuals declined to be named. People familiar with the matter said that in order to get rid of the status of the largest buyer of Russian marine crude oil, New Delhi may limit the share of Russian crude oil imports to 20% to 30% of India's total imports in the short term. Meanwhile, India will continue negotiations with the US.