EU imposes sanctions on Rosneft's refinery

The 18th package of sanctions against Russia over its war against Ukraine, announced almost two months after the previous package, also included lowering the oil price cap from $60 to about $48 a barrel. Russia has emerged as India’s top energy supplier since the West slapped sanctions on its oil after the invasion of Ukraine, and currently accounts for nearly 35% of overall supplies, followed by Iraq and Saudi Arabia.

- HT Correspondent

India responded to the EU's action by reiterating that New Delhi “does not subscribe to any unilateral sanction measures” and calling for an end to double standards in energy trade—a reference to European states buying refined products made from Russian oil from third countries.