Indian refineries suspend procurement of russian oil – Bloomberg

Indian state-owned refineries are currently refusing to purchase oil from the aggressor country russia due to tough sanctions imposed by US President Donald Trump. Bloomberg reported this on Thursday, August 7.

The publication writes that due to Trump's tough tariffs and pressure, India has temporarily stopped purchasing russian oil.

"Companies including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle, until there's clear government guidance," the material says.

Officially, New Delhi has not given any instructions to refiners to stop purchasing russian oil, and the government of Prime Minister Narendra Modi opposes Trump's tariffs. Bloomberg notes that the decline in oil purchases from russia may provoke a rush for other varieties, the alternative to which will be supplies from the US, the Middle East and Africa.

As the Ukrainian News agency earlier reported, on August 6, US President Donald Trump signed a decree imposing 25% tariffs against India due to its large imports of russian oil.

At the same time, additional duties due to the purchase of russian oil may be extended to other countries.

On August 6, the Indian Ministry of Foreign Affairs reacted to Trump's decree and called it unfair and unreasonable.