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Automatically translated version. May contain inaccuracies compared to the original.
Indian oil refineries have begun seeking alternatives to Russian oil after U.S. President Donald Trump signed into law the so-called “hellish sanctions” initiated by the now-deceased Republican Senator Lindsey Graham. The measures threaten tariffs on buyers of crude from the aggressor country, the Russian Federation. Bloomberg wrote about this in September 22.
The agency noted that India is the third-largest crude-oil importer in the world. Recently, in some months, the country depended on Russia for more than half of its imports, to curb price increases and compensate for persistent supply disruptions from the Middle East.
It will not be easy for India to replace Russian shipments, given that volumes are much larger than, say, Venezuela or Iran, and market prices are high, the author of the article noted.
According to Bloomberg sources, New Delhi may soon cut imports of Russian crude to 20–30% of total purchases in order to “get rid of the status of Moscow’s main buyer.”
At the same time, India will continue talks with America. The country's economy has already suffered a blow from American tariffs 2025. The restriction was subsequently lifted, but the risk of reimposition remains, and India wants to avoid it.
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