India’s state-owned refiners, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL), have resumed their purchases of Russian crude oil for delivery in September and October, according to company officials. The refiners had earlier suspended imports in July, citing reduced discounts and mounting global scrutiny over India’s continued reliance on Russian energy supplies.
The decision to buy again comes after Moscow widened price concessions, making imports economically attractive for Indian companies. This move follows months of diplomatic tension, with Washington criticizing India’s oil purchases from Russia. Adding to the pressure, former US President Donald Trump threatened to impose a 25% tariff on Indian goods starting August 27, in retaliation against these imports.
Industry experts note that while Indian refiners are balancing market economics with geopolitical pressures, discounted Russian oil remains a critical factor in meeting India’s energy demands at a lower cos
