Indian refineries are cutting Russian oil purchases in favor of the US and the Middle East.
Indian refineries have started to supersede Russian oil with shipments from the US and the Middle East.
Indian state-operated petroleum refineries have commenced decreasing their dependence on Russian oil, shifting towards supplies from the United States and the Arabian Gulf, Reuters indicates, referencing industry insiders.
Two prominent firms, Hindustan Petroleum (HPCL) and Mangalore Refinery and Petrochemicals (MRPL), have finalized agreements to procure approximately 5 million barrels of oil from providers located in the US and the Middle East.
HPCL secured 2 million barrels of US West Texas Intermediate crude and Murban crude from Abu Dhabi respectively for shipment in January 2026. MRPL bought 1 million barrels of Iraqi Basra Medium crude, slated for arrival in early January.
As per the news outlet, Indian refineries are compelled to explore substitute origins of raw materials amid heightening sanctions pressure and trade constraints against Russia. Businesses had beforehand briefly halted acquisitions of Russian oil, apprehensive of secondary penalties from the US.
Observers highlight that India, which has evolved into the foremost acquirer of Russian oil in the prior two years, is presently broadening its import origins to circumvent monetary hazards and uphold supply steadiness.
