India, Russian oil
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Some Indian refiners are preparing to cut Russian oil imports, three sources told Reuters on Thursday, after U.S. President Donald Trump said India had given an assurance it would stop its buying to help end the war in Ukraine.
The shadow fleet of unmarked tankers evading international sanctions to deliver Russian crude to India and China is straining trade talks.
The share of India’s oil imports from Russia has risen significantly from 2% in 2022 to 35% now - and figures released by data and analytics firm Kpler show that in volume terms purchases have remained largely steady throughout this year.
India begins limited yuan payments for Russian oil as rupee-rouble trade slows, says Russia’s Deputy PM Alexander Novak.