India May Escape 'Relatively Unscathed' From EU Sanctions

Refiners Likely to Incur Additional Costs, Say Traders

- S DINAKAR

India may emerge relatively unscathed from the latest round of sanctions by the European Union (EU) on Russian energy sales, top refining officials and traders told Business Standard.

Different kinds of sanctions are staggered for implementation until January 2026, giving further room for Indian refiners to take countermeasures, according to EU sanction documents and refining officials. There will be some adjustments to be made and additional costs incurred in navigating these sanctions, especially for private sector refiners—but it will be "business as usual" for state oil companies, said a senior trader of a state refiner.

Traders from state oil companies, which accounted for nearly half of total Russian oil imports of 1.8 million barrels per day (bpd) in calendar 2025 and meet most of the country's local fuel demand, will start talks in the next few days with Russian traders for supplies of Russian crude oil in September.

Two officials told Business Standard