Show Quick Read Summary is AI-generated, newsroom-reviewed

India is expected to make large-scale reductions in its Russian crude oil imports after Kremlin was subjected to fresh sanctions from the US.

Reliance Industries Ltd (RIL), one of the top importers of crude oil from Russia has decided to recalibrate its oil imports from that country in line with Government of India’s guidelines, according to a Reuters report.

This come after the US Treasury Department announced sanctions on Russian oil firms Rosneft and Lukoil. As a result of a ripple effect, state refiners are reviewing their Russian oil trade documents to ensure that no supply will be coming directly from Rosneft and Lukoil after both Kremlin-based companies were sanctioned by the United States on Wednesday.

Indian refiners

See Full Page