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Story summary
- India purchased 30 million barrels of Russian oil on March 10, 2026, after a U.S. waiver.
- Indian refiners, including Indian Oil Corp. (IOC) and Reliance Industries Ltd. (Reliance), seek to meet demand amid Middle East–driven shortages.
- Previously, India reduced Russian oil imports due to fears of U.S. tariffs and bought oil from Saudi Arabia and Iraq.
- With the U.S. stance relaxed, Indian refiners have acquired all available Russian crude cargoes.
