Indian refiners are now reportedly recalibrating their sourcing strategies and sharply curtailing imports of Russian oil to ensure compliance with US sanctions, a move expected to reshape the flow of Russian oil into India, which has emerged as the leading buyer of discounted Russian crude since 2022. This shift is underway as the country’s refiners, both state-run and private, respond to newly imposed sanctions by the United States on Russian oil companies Rosneft and Lukoil. The US Treasury has instructed companies to wind down transactions involving these producers by November 21. Advertisement

According to a report in Reuters, a refinery source said there will be massive cuts. “We don't anticipate it will go to zero immediately as there will be some barrels coming into market" before

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