Russia Oil Production

Russia-backed private refiner Nayara has been relying on traders to import crude & export refined fuels since European Union sanctions imposed last July complicated payments with customers & suppliers

Russia is considering temporarily permitting Euro-2 fuel standards, which were phased out more than a decade ago due to environmental concerns

Ukraine kept up its heavy drone assault on Russia, setting fire to a major oil refinery in the south, as President Vladimir Putin acknowledged for the first time on Sunday that the country was facing a "certain deficit" of fuel and vowed to strengthen protection of oil facilities and boost fuel output. Ukraine has markedly stepped up its long-range attacks on Russian military industries and energy facilities in recent months, aiming to cut Moscow's revenue for its invasion - now in its fifth year - and make Russians feel the consequences. "Our long-range sanctions' reached two oil refineries in Russia," Ukrainian President Volodymyr Zelenskyy wrote on the Telegram messaging app on Sunday. "Each (strike) means a reduction in the resources that fuel the Russian war machine, and another step toward peace." The campaign has choked Russian fuel supplies, causing widespread shortages and long lines at gas stations across the country and prompting authorities in many regions to introduce .

Ashwani Mahajan says the proposed India-US trade pact has become a one-sided market access arrangement, with key differences persisting over agriculture, data and Russian oil

Until June 20, Russia contributed to nearly 50 per cent of India's total crude oil imports in the month, showed data from maritime intelligence firm Kpler

Indian refiners expect Russian crude discounts to widen as additional supplies from Iran and West Asia enter the market following the US-Iran ceasefire agreement

The attack is the second in just a few days after a drone strike on Tuesday halted operations at the refinery

Two Democratic Senators have urged President Donald Trump against granting any further exemption from US sanctions on the purchase of Russian oil, contending that there is no rationale for such a move, as the war with Iran is now over. In a statement here on Tuesday, Senators Jeanne Shaheen and Elizabeth Warren said the waiver from sanctions has only helped Russia finance its "illegal war" with Ukraine. In March, the US granted a sanctions waiver to India for the purchase of Russian oil in a bid to stabilise global oil markets as the war with Iran, which started on February 28, led to a sharp increase in crude prices. The sanctions waiver was later extended to other countries. The one-month exemption has been extended twice and expires on June 17. "Extending this license yet again would give Vladimir Putin another opportunity to reap windfall financial gains while he continues his brutal war against Ukraine," the two senators said. They said an extension would also clearly contrad

India remained the world's second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros (USD 6.7 billion) worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report. Crude oil accounted for about 83 per cent of India's imports from Russia during the month, valued at 4.8 billion euros, while oil products and coal imports stood at 550 million euros and 429 million euros, respectively. "India's total crude import volumes recorded an 8 per cent month-on-month increase in May. This is partially explained by a 21 per cent month-on-month increase in Russian imports," CREA said. Some of India's largest refining hubs recorded notable increases in Russian crude arrivals. Unloaded volumes at the Vadinar refinery in Gujarat rose 36 per cent from April levels, while deliveries to the Jamnagar refining complex in the state increased 14 per cent. Accordin

The External Affairs Minister further countered the criticism by drawing attention to Europe's historical and moral inconsistencies regarding global security dynamics

The EU is weighing a freeze on its Russian oil price cap as the West Asia conflict drives crude prices sharply higher ahead of a July review

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

Fresh US waiver terms may curb Russian oil supplies to India as sanctioned cargo availability shrinks and refiners face mounting geopolitical uncertainty

he US has extended sanctions waiver on Russian oil purchases till June 17, easing pressure on Indian refiners reliant on discounted crude imports

Treasury Secretary Scott Bessent says 30-day extension will help stabilise crude markets and support countries affected by Gulf supply disruptions

India will continue purchasing Russian crude oil despite the expiry of the US waiver, while fuel retailers' under-recoveries have narrowed after the recent price hike

The developments mean that there are now at least 20 tankers being used to ferry LNG from sanctioned Russian projects

Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17

The US first provided a green light in March, and then widened that with an authorization that runs until May 16, in an effort to limit rising oil prices with additional barrels

The United States had eased sanctions on Russian oil in mid-March to counteract global oil shortages resulting from the closure of the Strait of Hormuz