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Indian Oil Resumes Russian Crude Purchases Amid Sanctions

11/3/2025

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Summary

Story summary

Indian Oil Corp (IOC) resumed purchasing Russian crude, ordering five December shipments, despite U.S. sanctions on Rosneft and Lukoil.
The resumption followed a brief pause in Russian crude purchases caused by the sanctions.
Bharat Petroleum bought 2 million barrels of Emirati crude as an alternative.
Other Indian refiners are exploring non-Russian sources.
Chinese refiners are cutting Russian imports by about 45%, lowering Russian crude prices.

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Story summary

Indian Oil Corp (IOC) resumed purchasing Russian crude, ordering five December shipments, despite U.S. sanctions on Rosneft and Lukoil.
The resumption followed a brief pause in Russian crude purchases caused by the sanctions.
Bharat Petroleum bought 2 million barrels of Emirati crude as an alternative.
Other Indian refiners are exploring non-Russian sources.
Chinese refiners are cutting Russian imports by about 45%, lowering Russian crude prices.