Indian refiners plan to keep buying Russian oil despite risk of US tariffs
New Delhi, Sept. 18 -- Indian refiners will continue importing Russian crude despite the prospect of US tariffs of up to 100%, as disruptions to supplies from West Asia have narrowed their alternatives, according to three people familiar with the developments.
"There is no immediate concern of shortage as refiners have tied up supplies for the next 45 days. Russian supplies will continue as procurement is not done from any sanctioned entity,'' said an executive with a state-run refiner on condition of anonymity. "Given our dependence on Russian crude, it cannot be replaced easily, especially now when supplies from West Asia are severely affected."
Russian oil imports continued even after the US announced a 50% tariff on India last year,...
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