According to them, orders for oil for the next month are made before the 10th of the current month.
Thus, in December, five Indian refineries refused Russian oil at once: Reliance Industries Ltd, Hindustan Petroleum Corp. Ltd, Bharat Petroleum Corp. Ltd, Mangalore Refinery and Petrochemicals Ltd. and HPCL-Mittal Energy Ltd.
These five refineries accounted for two-thirds of India's Russian oil imports in 2025, according to Kpler data.
Their caution is partly due to trade negotiations between New Delhi and Washington. Thus, US President Donald Trump said on November 10 that the two countries are “pretty close” to signing a trade agreement. India has pledged to buy more oil from the United States, according to Bloomberg sources.
The media noted that in December, only two Indian refineries plan to purchase Russian oil – Indian Oil Corp. and Nayara Energy Ltd (Rosneft partially owns the company).
Context
On October 22, the US Treasury imposed sanctions against Rosneft and Lukoil, explaining that the illegitimate Russian President Vladimir Putin refuses to end the war in Ukraine, which the Americans called “senseless.” Trump said he hoped this would encourage Putin to negotiate.
The media wrote that India was reviewing contracts with Russia after US sanctions against Rosneft and Lukoil.
On October 25, Trump announced that India would “completely stop” purchasing Russian oil.
On October 29, Bloomberg wrote that a tanker with Russian oil en route to India turned around in the Baltic Sea after US sanctions.
