As the U.S. doubles down on Russian sanctions, India's state-owned refiners are increasingly cautious about committing to contracted supplies of Russian crude.
The largest state-owned refiners in India have become increasingly cautious about committing to contracted supplies of Russian crude, wary of potentially running afoul of the stricter enforcement of the U.S. sanctions on Russian oil exports, multiple sources with knowledge of the matter have told Bloomberg. The U.S.
As term supply commitments for the next Indian financial year beginning April 1 are being discussed, Indian Oil Corporation, the largest state-controlled refiner, is expected to reduce contracted Russian crude supply, six sources told Bloomberg on Wednesday.
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