BREAKING NEWS: India’s state-owned refineries are buying Russian oil again

It is noted that deliveries will be made in September and October.

India’s state-owned oil refineries have resumed purchases of Russian oil after a pause, despite rising tariffs and a barrage of criticism from the United States.

Bloomberg reports that refiners, including Indian Oil Corp. and Bharat Petroleum Corp., have purchased several batches of Russian Urals crude in the past two days, with deliveries set to take place in September and October.

Earlier this month, state-owned refiners suspended purchases of their flagship Urals crude for the months under pressure from the United States. In late July, New Delhi asked refiners to develop plans to cut back on Russian oil in the event of a supply disruption. One official said the directive amounted to scenario planning.

White House trade adviser Peter Navarro wrote in a column for the Financial Times this week that the surge in Russian oil purchases was driven by “speculation by India’s big oil lobby” rather than domestic needs. US Treasury Secretary Scott Bessant said that “India’s wealthiest families” had benefited from Moscow’s oil purchases and confirmed plans to raise tariffs on New Delhi.

(C)UNIAN 2025