Indian state-owned refineries do not buy oil from Russia

This was reported by Reuters, citing industry sources.

India is the world's third-largest oil importer and the largest buyer of Russian crude oil transported by sea.

India's state-owned refineries, including Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd, have not purchased Russian crude oil for the past week or so, Reuters sources said.

The four refineries regularly buy Russian oil on delivery terms and have turned to spot markets to replace supplies — mostly Middle Eastern grades such as Murban crude from Abu Dhabi and West African crude.

Reuters highlights that private refiners Reliance Industries and Nayara Energy are the largest buyers of Russian oil in India. However, state-owned refineries control more than 60% of the country's total oil refining capacity of 5.2 million barrels per day.

Recall, on July 14, 2025, Trump threatened 100% tariffs on countries that buy Russian oil if Moscow does not sign a peace agreement with Kyiv.

On July 30, the US President announced his intention to impose a 25% tariff on imports from India from August 1.