Indian Oil and Nayara increase Russian crude imports as Reliance skips purchases

Summary

India's Russian oil imports have decreased significantly due to US sanctions limiting buyers. Indian Oil and Nayara Energy have become the primary purchasers, while Reliance Industries has ceased all Russian crude supplies. This change has led to Russian suppliers offering deeper discounts on their oil.

Recent Coverage

• Indian Oil, Nayara lift Russian crude as RIL skips; IOC accounts for 43% of January imports

  Economic Times - India Time • Jan 17

• India slips to third as major refiners tap the brakes on Russian crude

  Economic Times - India Time • Jan 13

• India's January Russian oil imports may fall sharply as Reliance expects no deliveries

  Economic Times - India Time • Jan 6