{"id":1312543,"date":"2025-10-28T11:46:09","date_gmt":"2025-10-28T09:46:09","guid":{"rendered":"https:\/\/prm.ua\/india-has-frozen-new-deals-to-buy-russian-oil-what-is-the-reason\/"},"modified":"2025-10-28T11:46:09","modified_gmt":"2025-10-28T09:46:09","slug":"india-has-frozen-new-deals-to-buy-russian-oil-what-is-the-reason","status":"publish","type":"post","link":"https:\/\/prm.ua\/en\/india-has-frozen-new-deals-to-buy-russian-oil-what-is-the-reason\/","title":{"rendered":"India has frozen new deals to buy Russian oil: what is the reason?"},"content":{"rendered":"

Following the introduction of new sanctions against Russian energy companies, Indian oil refineries have temporarily stopped placing new orders for the supply of Russian oil.<\/strong><\/p>\n

As Reuters reports,<\/a> citing its own sources, the companies are awaiting official clarifications from the Indian government and counterparties on further actions.<\/p>\n

Some refineries are now covering their needs through spot purchases on the international market, the agency said. Reuters sources, who spoke on condition of anonymity because they were not authorized to speak to the press, said state-owned Indian Oil had already floated a tender to buy new batches of crude, while private giant Reliance Industries had stepped up spot purchases.<\/p>\n

The United States, the European Union, and the United Kingdom have increased economic pressure on Russia in recent weeks over its aggression against Ukraine. In particular, Washington on Thursday imposed a new package of sanctions that affected two of Russia’s largest oil companies, Lukoil and Rosneft.<\/p>\n

Indian refineries are preparing to cut imports of Russian oil to avoid the risk of violating US restrictions, Reuters reported, in a move that could remove one of the key obstacles to strengthening trade relations between New Delhi and Washington.<\/p>\n

Last week, Reliance Industries, India\u2019s largest buyer of Russian oil, said it would operate within the sanctions regime while maintaining partnerships with existing suppliers. The company is already considering halting purchases from Rosneft, the agency reported.<\/p>\n

“We have not placed any new orders at this time and have canceled several bookings from traders who may be associated with sanctioned entities,” one of the sources told Reuters.<\/p>\n

Another source clarified that banks will not make payments if counterparties fall under US sanctions:<\/p>\n

“We must ensure that our contracts are not linked to sanctioned individuals.”<\/p>\n

Another source said the company is waiting for confirmation whether it can receive shipments from traders who are not subject to restrictions.<\/p>\n

India received about 40% of Russian oil exports, according to the International Energy Agency (IEA). After the start of Russia’s full-scale invasion of Ukraine, New Delhi became one of the largest buyers of Russian raw materials at discounts, but new sanctions restrictions are forcing Indian companies to reassess risks and diversify sources of supply.<\/p>\n

As a reminder, the Donald Trump administration has announced the first major package of financial restrictions aimed at the Russian economy<\/a> . This move is part of Washington’s new strategy, the aim of which is to force the Kremlin to end its war against Ukraine.<\/p>\n

As reported, between June and September this year, India’s state-owned oil refineries significantly reduced their oil purchases from Russia by more than 45%.<\/a><\/p>\n

By the way, US President Donald Trump has chosen a middle option for sanctions against Russia, which focuses on the energy sector, rather than a complete blockade of the industry<\/a> . This decision paves the way for further steps, including the transfer of Tomahawk missiles to Ukraine.<\/p>\n

Also follow \u201cPryamim\u201d<\/strong> on Facebook<\/a> , Twitter<\/a> , Telegram<\/a> , and Instagram.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Following the introduction of new sanctions against Russian energy companies, Indian oil refineries have temporarily stopped placing new orders for the supply of Russian oil. As Reuters reports, citing its own sources, the companies are awaiting official clarifications from the Indian government and counterparties on further actions. Some refineries are now covering their needs through […]<\/p>\n","protected":false},"author":59,"featured_media":1312537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[76870,76871,76872,76892],"class_list":["post-1312543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","category-news-2","category-news-feed","category-economy"],"_links":{"self":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1312543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/comments?post=1312543"}],"version-history":[{"count":0,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/posts\/1312543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media\/1312537"}],"wp:attachment":[{"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/media?parent=1312543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prm.ua\/en\/wp-json\/wp\/v2\/categories?post=1312543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}