Page 4 - Russia Oil Production

Russian oil import: Indian Oil says will abide by all applicable sanctions

Indian Oil Corporation (IOC), the nation's biggest oil company, will comply with all applicable sanctions, Chairman Arvinder Singh Sahney said on Monday, steering clear of remarks on purchases from Russia. Indian refiners are likely to scale back on the import of Russian oil to avoid secondary sanctions on shipping and banking after the US imposed fresh sanctions with a view to curbing Moscow's earnings from oil sales. "We will abide by all sanctions imposed by the international community," he said. He, however, refused to comment on the IOC's purchases of Russian oil. Russian oil made up for 21 per cent of the crude oil IOC imports during April-September. IOC's subsidiary Chennai Petroleum Corporation Ltd (CPCL) has halved Russian oil imports this month, coinciding with the fresh sanctions the US imposed on Russian oil. US President Donald Trump, late October 22, imposed sanctions on Russia's Rosneft and Lukoil, in a bid to pressure Moscow into ending its war on Ukraine. A day l

Exim matters: US sanctions may lead to fall in Russian crude oil imports

Imports of oil from Russia at discounted prices meet about 35 per cent of India's crude oil requirements

India cutting back Russian oil purchases 'completely': Donald Trump

US President Donald Trump once again claimed that India is going to stop buying oil from Russia, emphasising that India is cutting back Russian oil purchases completely while China will cut back very substantially. Talking to reporters onboard Air Force One on his way to Malaysia, on Saturday, Trump said that India is cutting back Russian oil purchases completely. While responding to a question about raising the issue of Russian oil with Chinese President Xi Jinping during their meeting, Trump said he might discuss Russian oil purchases with Xi. I may be discussing it, but you know China, you probably saw it today. China's cutting back very substantially on the purchase of Russian oil, Trump said. Trump is set to meet Xi on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea. The US president and his administration have been claiming for the past few days that India has assured that it will significantly reduce its oil imports from Russia. However,

Indian refiners may buy more oil from West Asia after Russia sanctions

Indian refiners will likely lean on Iraqi Basrah Medium, a type of crude oil, barrels to replace lost Russian grades

RIL says it will comply with US, UK, EU sanctions on Russian oil imports

The oil refining giant said that it is assessing the implications of restrictions and sanctions by the EU, the UK and the US on crude oil imports from Russia

Oil disruption widens as China halts some Russia buys after US sanctions

The majors have begun to assess the curbs, as well as similar moves by the EU, according to people with knowledge of the situation, asking not to be identified discussing sensitive issues

White House calls new US sanctions on Russian oil 'appropriate, necessary'

Criticising the lack of "interest or action" from the Russian side to move towards peace, Leavitt said that while a potential meeting between Putin and Trump is "not completely off the table"

WH repeats claim India cutting Russian oil imports at Trump's request

However, India has denied any agreement, emphasising its priority to safeguard consumer interests. The country's energy policy prioritises stable prices and secure supplies

Trump's turnaround sanctions target Russian oil firms that fund Ukraine war

The US and the European Union are hitting Russia with another round of sanctions, aiming to cut into oil and gas export earnings that fund Moscow's war against Ukraine. More than 3 1/2 years into the war, the effort remains a cat-and-mouse game, with Russia finding new ways to get around sanctions, and Washington and Brussels adding new ones and looking for ways to plug enforcement gaps. The chief target of the latest round: Russia's biggest oil companies, Rosneft and Lukoil. New US Treasury sanctions threaten their customers in India and China with retaliation that could include being sanctioned themselves. Meanwhile, the EU is phasing out by the end of next year those shipments of Russian liquefied natural gas that come by ship, and is going after cryptocurrency issuers, platforms and exchanges that Russia has used to skirt restrictions on its financial dealings with the outside world. US Treasury Secretary Scott Bessent said the move aimed to push Russian President Vladimir Puti

US sanctions on Russian oil majors may hurt Reliance Industries, Nayara

Rosneft, Lukoil major suppliers to India; crude import bill may rise by over ₹23K cr

EU imposes new sanctions on Russian energy, joins US in pressure campaign

The EU will also tighten a transaction ban on two major Russian oil companies and sanction 117 additional so-called shadow fleet vessels

US sanctions on Russian oil to hit Reliance; PSUs may keep buying

US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil directly from Russia's Rosneft, they said. Reliance had in December 2024 signed a term deal with Russia's Rosneft - now sanctioned - to import as much as 500,000 barrels per day of Russian oil for 25 years. It also buys oil from intermediaries. The company did not immediately respond to

Recalibrating Russian oil imports, will fully comply with guidelines: RIL

Reliance, which operates the world's largest refining complex at Jamnagar in Gujarat, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian major Rosneft

India's Russian oil imports may dry up as US sanctions hit Rosneft, Lukoil

Latest sanctions will mean that orders due to be placed over the coming week - for crude that will load in November and deliver in December - will now be overwhelmingly from other destinations

US imposes new sanctions on Russia's top oil firms Rosneft and Lukoil

Treasury Secretary Scott Bessent announced new sanctions Wednesday against Russia's two biggest oil companies and blasted Moscow's refusal to end its senseless war as U.S.-led efforts to end the war floundered and the Ukrainian president sought more foreign military help. The sanctions against Rosneft and Lukoil, as well as dozens of subsidiaries, followed months of bipartisan pressure on President Donald Trump to hit Russia with harder sanctions on its oil industry. Now is the time to stop the killing and for an immediate ceasefire, Bessent said in a statement. Given Russian President Vladimir Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine. Bessent said the Treasury Department was prepared to take further action if necessary to support Trump's effort to end the war. We encourage our allies to join us in and adhere to these sanctions. Bessent made the comments as NATO Secretary General Mark .

India not going to buy much oil from Russia, says US President Donald Trump

US President Trump and PM Modi discuss trade, India's Russian oil imports, and regional issues in Diwali call; PM reiterates India-US partnership and anti-terror stance

EU energy ministers push to ban all Russian gas by 2027 amid US pressure

Europe has been under pressure from the US to speed up moves to sever its energy ties with Moscow, and buy more American liquefied natural gas

'India won't buy Russian oil': Trump repeats claims of speaking to PM Modi

Trump reiterated that PM Modi assured India would not buy Russian oil now, despite New Delhi dismissing his claims; Trump added New Delhi would continue paying 'massive' tariffs otherwise

50% Trump tariffs: Call on support measures hinges on trade deal

Both countries are negotiating a comprehensive resolution that addresses both the pending issues in their trade deal and Washington's concerns over New Delhi's continued purchase of Russian oil

Dark ship appears to transfer US sanctioned Russian LNG off Malaysia

The Perle, which was sanctioned by the US earlier this year, is currently anchored parallel to another vessel approximately 90 kilometers (55 miles) east of the Malaysian peninsula