Indian oil refineries are avoiding purchasing Russian oil for delivery in March-April, News.Az reports, citing Reuters.
The publication notes that Indian companies plan to continue to avoid dealing with Russian oil. According to the agency’s sources, this move is intended to help New Delhi secure trade agreements with Washington.
Indian Oil, Bharat Petroleum, and Reliance Industries have already scheduled several Russian energy supplies for March, but they are not signing new deals for early spring. Most other refiners have stopped buying Russian oil, the agency notes.
As a reminder, the United States, as of February 7, lifted the additional 25% tariff on imported goods from India, which had been previously imposed due to India’s purchases of Russian oil.
On February 2, Trump announced that Indian Prime Minister Narendra Modi had agreed to stop purchasing Russian oil. The American president called the Indian prime minister “one of my best friends” and emphasized the importance of the agreement.