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2025-10-31 06:40:10
[Indian State-Owned Refining Company Suspends Purchases of Russian Crude Oil] Hindustan Petroleum Corporation (HPP), India's state-owned refining company, announced on the 29th that it has suspended purchases of Russian crude oil. This followed a Financial Times report that the company had purchased approximately $280 million worth of Russian crude oil, transported by ships subject to US sanctions. AFP noted that US-India relations have deteriorated sharply since the US raised tariffs on Indian oil to 50% in August, with the US accusing India of indirectly supporting its military operations by purchasing discounted Russian crude oil. Reuters reported that last week, the US and EU imposed a new round of sanctions on Russian oil exports, targeting the two major Russian oil giants, Lukoil and Rosneft. In response, Indian refiners have chosen to postpone purchases, awaiting clarification of the situation.
