India’s refiners have halted new Russian oil purchases after Washington tightened sanctions against Moscow’s top energy companies, triggering payment concerns and leaving buyers waiting for clarity from the government and suppliers, industry sources told Reuters.

The uncertainty has pushed some refiners to tap spot markets to meet short-term crude requirements. State-run Indian Oil Corporation (IOC) has issued a fresh tender for oil, while Reliance Industries, India’s biggest private refiner, has stepped up spot buying, sources said.

Last week, the US imposed new sanctions on Russia’s two largest oil producers, Lukoil and Rosneft, expanding restrictions already in place from the European Union and the UK over the war in Ukraine.

The fresh measures have forced Indian buyers to reassess

See Full Page