India’s November Russian oil imports set to hit 5-month high

Buyers of Russian oil had until November 21 to wind down dealings with Russia’s two biggest oil producing companies Rosneft and Lukoil

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India’s oil imports from Russia in November are set to hit their highest level in five months, preliminary data from Kpler shows, as refiners rushed to secure barrels ahead of a US deadline to end transactions with sanctioned Russian oil producers.

India, the world’s third-largest oil importer, has been the biggest buyer of discounted seaborne Russian crude after Russia was shunned by Western countries following its 2022 invasion of Ukraine.

Russian President Vladimir Putin is due to visit the South Asian country next month, according to the Kremlin. His last trip there was in December 2021, a few months before ordering troops into Ukraine.

Britain, the European Union and the United States have tightened sanctions on Moscow over the war, with Washington’s latest measures targeting the country’s biggest producers Rosneft and Lukoil.