Indian Oil Refineries Resuming Purchases of Russian Oil Despite U.S. Criticism
After a brief pause, India’s state-owned oil refineries have once again ramped up their purchases of Russian oil, notably from major companies such as Indian Oil Corp.
and Bharat Petroleum Corp.
This resurgence occurred towards the end of summer, despite sanctions and heightened political tensions driven by criticism from the U.S.
administration.
According to Bloomberg, supplies of Russian ‘Urals’ crude are scheduled for September and October, even though earlier this year, Indian refineries temporarily halted these imports under pressure from Washington.
India’s finance minister has already announced plans to prepare for supply disruptions to mitigate potential impacts on the domestic market.
This move has sparked outrage and concern within U.S.
circles, with White House trade advisor Peter Navarro accusing India of speculative purchasing to benefit its wealthiest families.
Critics argue that these Russian oil imports play a critical role in stabilizing global energy markets and preventing supply crises.
The U.S.
has responded by threatening additional tariffs and sanctions, exacerbating trade tensions between New Delhi and Washington, which further complicates the global energy landscape.
India’s reliance on Russian oil imports continues to generate debates about its energy policies and strategic independence amid ongoing international sanctions and economic pressures.