Indian Oil Corporation (IoCL) said on Tuesday that Russian crude oil has not been sanctioned and India’s largest fuel retailer will continue to buy the commodity from no-sanctioned companies and use services of non-sanctioned shipping lines.

When asked whether the oil marketing company (OMC) will completely avoid buying Russian crude oil, IoCL Director (Finance) Anuj Jain during a results call with analysts said “No. See, we are absolutely not going to discontinue as long as we are doing the compliance of the sanctions.”

The top official explained that Russian crude oil has not been sanctioned. It is the entities and the shipping lines which have been sanctioned.

“So, today somebody comes to me, which is a non-sanctioned entity and the cap (price) is being complied with, the shipping i

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