Reuters reported the information, citing market sources.The volume of oil purchased exceeds IOC’s usual procurement levels, partly to compensate for a reduction in Russian oil imports. The prices of these deals have not yet been disclosed.According to the report, IOC acquired 4.5 million barrels of U.S. WTI Midland crude, 500,000 barrels of Canadian Western Canadian Select (WCS), and 2 million barrels of Das oil, which is produced in Abu Dhabi.Reuters notes that India is the world’s third-largest oil importer and the leading buyer of Russian seaborne oil.India’s state-owned oil refiners — IOC, HPCL, BPCL, and MRPL — halted purchases of Russian crude last week. However, the Indian government later denied rumors of an official ban on Russian oil imports. The developments came shortly after former U.S. President Donald Trump, on July 30, announced plans to impose a 25% tariff “plus a penalty” on India if it continues importing Russian crude oil.BackgroundOn July 30, U.S. President Donald Trump announced the imposition of 25% tariffs on India, along with additional penalties starting August 1, citing India’s continued purchases of oil and weapons from Russia at a time when, as he put it, “everyone wants Russia to stop killing in Ukraine.”Following his statement, Reuters reported that India’s state-owned oil refiners had stopped buying Russian oil, citing shrinking discounts and growing pressure from Trump’s warning.Bloomberg later revealed that at least four tankers carrying Russian crude were idling off India’s west coast, as Indian purchases came under increased scrutiny from both the United States and the European Union.On August 2, it was reported that at least two tankers delivering Russian oil to Indian refineries had been redirected to alternative destinations in response to new U.S. sanctions.Shortly afterward, Reuters, citing two Indian government officials, reported that despite threats from the U.S. President, India still intended to continue importing Russian oil.Meanwhile, White House Deputy Chief of Staff and senior adviser Stephen Miller publicly accused India of effectively financing Russia’s war against Ukraine through its ongoing oil trade with Moscow.