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2026-09-21 17:24:11
[Indian Refiners May Cut Russian Crude Oil Purchases and Seek Alternative Sources] ⑴ Indian refiners are currently finalizing their November crude oil delivery schedules. Last week, a comprehensive US sanctions bill was officially signed into law, adding the risk of punitive tariffs, which may lead Indian refiners to reduce their purchases of Russian crude oil. ⑵ India is the world's third-largest crude oil importer. In recent months, to cope with high oil prices and continued disruptions to Middle Eastern crude oil supplies, more than half of India's crude oil imports have come from Russia. ⑶ However, sources familiar with the negotiations indicate that in the past few days, leading Indian refineries have begun seriously seeking alternative sources.
