India’s oil imports of Russian are to reach five-month peak
A trading source told reports, “Russian supply is expected to be high in November as many refineries tried to fill the stocks prior to the US sanctions deadline and also due to the rule for oil products production for EU market from non-Russian oil from 2026.”
The US announced sanctions on October 22, requiring companies to wind down dealings with Russian oil majors Rosneft and Lukoil by November 21. Meanwhile, the EU has set a January 21 deadline after which it will not accept fuel from refineries that processed Russian crude within 60 days of the bill of lading.
Since 2022, Russia has been India’s top oil supplier, and during this period, India has also become a significant exporter of refined fuels to Europe. The US previously imposed 50% tariffs on India, combining reciprocal levies with punitive measures linked to Russian oil imports. New Delhi has rejected criticism of its imports from Russia, asserting that its energy strategy is guided by “national interest,” while continuing to expand trade with the US.
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