Indian Refiners Pause Russian Oil Purchases

INDIAN STATE REFINERS have stopped buying Russian oil in the past week as discounts narrowed this month and US President Donald Trump warned countries not to purchase oil from Moscow, industry sources said.

- NIDHI VERMA

India, the world's third-largest oil importer, is the biggest buyer of seaborne Russian crude, a vital revenue earner for Russia as it wages war in Ukraine for a fourth year.

The country's state refiners—Indian Oil, Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery Petrochemical—have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters.