US ban on Russian oil may not have instant impact

THE recent sanctions imposed by the US on the Russian oil are unlikely to have an immediate or direct impact on India's oil supply.

- RAKESH KUMAR

Any major effects are expected to be felt in next two months, as per a senior official in the petroleum ministry.

The official said, on condition of anonymity, the worst-case scenario of the sanctions on Russian crude would be that India will no longer receive discounted or cheaper crude and will have to purchase crude at the market price. "In the next two months, we don't see major problems. It is too early to say," said the official.