Trump Sanctions Russian Oil
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U.S. decision to sanction Russia's two largest oil companies threatens to disrupt the energy lifeline of India and China, industry experts said.
6don MSN
Trump claimed India had agreed to stop buying Russian oil. New Delhi says it knows nothing about it
India has seemingly pushed back against US President Donald Trump’s claim it had agreed to stop importing Russian oil in defiance of massive sanctions from Washington, signaling that an issue that has
Indian refiners plan to sharply cut Russian oil imports following new U.S. sanctions targeting Rosneft and Lukoil, sources say.
US sanctions on Russian oil companies affecting Reliance's crude imports from Russia while state-owned refiners may still buy through intermediaries.
With the one-year agreement, 'Petrobras will now supply oil to India's three main state-owned refiners', the Brazilian state-owned company said.
Weighed down by the development, shares of state-owned HPCL dropped as much as 4.06% to ₹437 apiece on the BSE, while BPCL fell 2.66% to ₹330. The share price of Indian Oil slipped 2.58% to ₹150.05 apiece on the BSE.
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