The landscape of India's crude oil imports is undergoing significant shifts as new US sanctions on Russian firms Rosneft and Lukoil kick in. With these measures, Russian oil imports are predicted to decline sharply, compelling Indian refiners to reassess their purchasing strategies.

Traditionally reliant on Middle Eastern oil, India ramped up imports from Russia post-Ukraine invasion, taking advantage of steep discounts. In recent developments, analysts project a considerable drop in Russian oil flows through December and January, as major Indian companies halt imports to comply with the sanctions.

The situation remains fluid, with new trading intermediaries and alternative sourcing from regions like the Middle East and Latin America expected to partially fill the void. However, the geop

See Full Page