India refiners set stage for slump in Russia oil purchases
Published on: Oct. 31, 2025, 3:32 p.m. | Source: The Economic Times
Indian refiners, responsible for over half of the nation's Russian crude imports, have halted purchases for upcoming months. This decision follows US sanctions on major Russian producers, leading top buyers like Reliance Industries to cease Russian cargo acquisition. Smaller entities also paused deals due to secondary sanction risks.
