Brief by Shorts91 Newsdesk / 08:52am on 01 Aug 2025,Friday India Global
India’s major state-owned refiners—including IOC, BPCL, HPCL, and MRPL—have paused Russian crude purchases for over a week as of late July 2025. The decision follows sharply reduced discounts on Russian crude and warnings from U.S. President Donald Trump, who threatened 100% tariffs on nations still importing oil from Moscow unless peace is achieved in Ukraine . These state refineries now rely on spot market supplies from the Middle East, such as Abu Dhabi’s Murban grade, and West Africa . Private refiners like Reliance and Nayara continue Russian imports under long‐term contracts. India sources about 35% of its oil from Russia, making this a significant strategic shift. (PC: Reuters)
