The Hindu front page report said that the US sanctions Russian oil; Indian refineries are preparing to cut imports of Russian oil. Rosneft and Lukoil were sanctioned for funding the Kremlin's war machine, pushing global oil prices up 3%. Trump said India would cut its imports to almost zero by the end of the year: Indian companies are readjusting to comply with the new guidelines.
US President Donald Trump imposed sanctions on two major Russian oil companies as part of his latest policy shift on Moscow's war in Ukraine, prompting global oil prices to rise 3% on Thursday.
Trump also reiterated that he said India has agreed to "stop" buying oil from Russia, and will reduce its oil purchases to "almost zero" by the end of the year, and that he will persuade China to do the same.
India and China are the two largest buyers of Russian oil. Industry sources said on Thursday that Indian refiners, including Reliance Group, the largest Russian crude oil buyer in India, are prepared to significantly cut Russian oil imports to comply with the new US sanctions.
India's reliance on oil, although Russia's share in India's crude oil imports declined in 2025, still accounts for more than 30% of India's crude oil imports. This chart shows the change of Russia's share in India's oil imports over time.
Trump once said: "India has told me they will stop [buying Russian oil]. It is a process. You can't just stop overnight. By the end of this year, their imports will be almost zero."
Original: www.toutiao.com/article/1846919808130112/
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