Petroleum
India, the second-largest crude oil importer in the world, is poised to significantly reduce its Russian oil imports as US sanctions on two major Russian oil producers take effect. The move is in response to the significant increase in global crude prices and shifting US-India trade dynamics. Reliance Industries, led
Petroleum
Reliance Industries Ltd, India's top importer of Russian oil, has stated that it will comply with Western sanctions targeting Russia's two largest oil companies. The conglomerate, chaired by billionaire businessman Mukesh Ambani, announced that it will adapt its refinery operations to meet the compliance requirements of
PJSC LUKOIL
India's largest supplier of oil, Russia, may witness a sharp decline in oil imports to the country following the imposition of sanctions by the US on Russian oil majors Rosneft and Lukoil. Industry insiders have stated that government-owned refiners are already evaluating compliance risks to ensure that the
Petroleum
India, the second-largest crude oil importer in the world, is poised to significantly reduce its Russian oil imports as US sanctions on two major Russian oil producers take effect. The move is in response to the significant increase in global crude prices and shifting US-India trade dynamics. Reliance Industries, led
European Union
India has asserted its position against European Union's (EU) unilateral sanctions on Russia, focusing on the importance of energy security for its citizens. The Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal stated that India does not support unilateral sanctions, emphasizing the provision of energy security as a
European Union
The European Union (EU) has announced a new package of sanctions against Russia, including a ban on refined petroleum products made from Russian crude oil and coming from any third country. In a move that has sparked tensions between the EU and India, the EU has also targeted the Vadinar
European Union
The European Union has announced new sanctions on the Vadinar refinery in Gujarat, jointly owned by Russian energy firm Rosneft and an investment consortium, as part of a package largely aimed at curbing the revenues of Russia's oil and energy sector. The sanctions also include an import ban
Foreign policy
The European Union has introduced fresh sanctions on Russian oil exports, designating the Nayara Energy refinery at Vadinar in Gujarat as the first refinery in India to come under Western sanctions. The new measures aim to strangle funding for Moscow's war machine by lowering the price cap on
European Union
The European Union has taken a decisive step against Russia's invasion of Ukraine by imposing fresh sanctions on Rosneft's Indian refinery and lowering the Russian oil price cap. This move impacts India's crude supply chain, which could raise costs for refiners like IOCL and
European Union
The European Union (EU) has announced its 18th package of sanctions against Russia, aimed at curbing the country's oil and energy sector's revenues. The package includes a reduction of the oil price cap from $60 to about $48 a barrel, the designation of the Vadinar Refinery
European Union
The Indian government has responded firmly to recent sanctions imposed by the European Union on an Indian refinery linked to the Russian energy company Rosneft. In an official statement, the Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal emphasized that India does not recognize unilateral sanctions and urged the EU
Energy industries
Industry experts, politicians, scientists, government officials, and heads of major international energy companies gathered at the XXVIII St. Petersburg International Economic Forum to discuss current trends in the global energy market. The event, organized with the support of Rosneft, was led by Igor Sechin, Head of Rosneft, who presented a
