US sanctions on Russian oil firms hit India

BRENT CRUDE UP 5% AMID CONCERNS OVER REDUCED RUSSIAN FLOWS

- BY JUSTIN VARGHESE Your Money Editor

Russia’s two largest oil producers, Rosneft PJSC and Lukoil PJSC, now face sweeping US sanctions that place roughly 3.1 million barrels per day (bpd) of exports at risk — nearly half of Russia’s total oil shipments.

For Indian refiners, the sanctions mark a significant supply shock. India imported about 1.7 million bpd of Russian crude in the first nine months of 2025. Major purchasers like Reliance Industries Ltd have long-term supply agreements with Rosneft and are now weighing the impact.