The United States has clarified to India that tankers loaded with Russian oil have to discharge by Feb. 27 under the latest sanctions targeting Moscow's oil revenue, India's oil secretary Pankaj Jain told reporters at an event.

Since the Ukraine war, India has become the second largest buyer of Russian crude oil, owing to the hefty discount Russia offered to bypass sanctions. Prior to the war, India secured most of its oil from the Middle East, with Russia not even featuring among India’s top 20 partners.

Following Russia's invasion of Ukraine in 2022, India became a major buyer of Russian crude oil that was widely sanctioned by the West. That may be about to change.

India has allowed Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to Indian ship regulator's website, as New Delhi wants steady supply of cheaper Russian oil despite latest U.

Bharat Petroleum Corp, India's state-run oil refiner, expects its processing of Russian oil down to 20% in March, down from 31% this month.

Indian refiner Bharat Petroleum Corp Ltd. isn’t able to get Russian crude cargoes for March delivery, underlining how stringent US sanctions have upended Moscow’s oil trade and forced Asian buyers to seek alternatives.

India's state-run refiner Bharat Petroleum Corp sees its Russian oil processing down to 20% in March from 31% this month as it awaits offers from traders, its head of finance Vetsa Ramakrishna Gupta told an analyst call on Thursday.

India's Bharat Petroleum Corp projects a decline in Russian oil processing to 20% in March from 31% in February due to unclear supply conditions. The company copes by sourcing alternatives and expanding tenders,