Indian oil refineries will keep purchasing oil from Russia, disregarding suggested US sanctions against Moscow's trading partners related to the conflict in Ukraine. Officials confirmed that oil companies have not halted Russian oil imports, which are dictated by economic factors such as price and logistics. The Indian government has not mandated an end to these purchases, maintaining that existing contracts remain in effect. Despite earlier reports of halted purchases due to tariff threats, official sources affirmed ongoing compliance with international norms regarding Russian oil, which is not subject to direct US or EU sanctions.
Indian oil companies had not paused Russian imports and that supply decisions were based on price, grade of crude, inventories, logistics and other economic factors.
The government had not given any direction to oil companies to cease buying oil from Russia.
These are long-term oil contracts, and it is not so simple to just stop buying overnight.
Indian oil refineries operated in full compliance with international norms, and Russian oil had never been directly sanctioned by the US or EU.
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