Two Indian state-owned oil refiners have bought 5 million barrels of oil from the US, the United Arab Emirates and Iraq in an attempt to find an alternative to russian crude.
This was reported by Reuters, citing industry sources.
Hindustan Petroleum Corp (HPCL) bought 2 million barrels of US West Texas Intermediate crude and another 2 million barrels of Murban crude from the UAE. And Mangalore Refinery and Petrochemicals (MRPL) bought 1 million barrels of the Iraqi crude.
The oil was bought on spot markets through tenders. The crude is scheduled to be delivered in early January 2026.
The agency recalls that HPCL and MRPL have suspended imports of russian oil due to risks associated with the latest US sanctions against oil companies from russia.
As Ukrainian News Agency earlier reported, on November 6, US President Donald Trump said that India had largely stopped buying russian oil.
As a reminder, at the end of October, Bloomberg reported that the Indian holding company Reliance Industries Limited had purchased shipments of crude oil from the US and Middle Eastern countries.
Shortly before that, Reliance said that the company would comply with the sanctions imposed on russia by the European Union, the US and the UK.
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