Indian Oil Firms Navigate Sanctions: Russian Crude Still on the Table
Despite recent sanctions targeting specific Russian suppliers, Indian oil firms including IOC may continue purchasing non-sanctioned Russian crude. With key entities like Rosneft not being direct producers, crude can be channeled through non-sanctioned intermediaries. Firms assess new orders while maintaining economic advantages of discounted Russian oil.
- Country:
- India
Indian Oil Corporation and other Indian oil companies are poised to continue their purchase of Russian crude in light of recent sanctions, focusing on specific Russian suppliers rather than the oil itself.
Officials confirm that India's largest supplier, Rosneft, acting as an aggregator rather than producer, is not directly affected, allowing continued transactions through non-sanctioned entities.
Lukoil and Gazprom Neft face sanctions, but options remain as firms strategize to harness the economic benefits of discounted Russian crude. Major players like Reliance Industries and Nayara Energy consider the impact of these restrictions.
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