Indian media: Indian state-owned refineries continue to purchase oil from Russia
The Indian newspaper Mint quoted sources as reporting that Indian state-owned refineries continue to purchase oil from Russian suppliers.
The report said, "State-owned refineries - Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd - continue to purchase oil from Russia."
On Saturday, sources also confirmed to the Indian ANI news agency that India continues to purchase oil from Russian suppliers. Earlier that day, US President Donald Trump had said that India would no longer purchase oil from Russia.
ANI news agency noted: "Sources interpreted Trump's remarks, stating that decisions by Indian refineries regarding oil supply depend on price, oil grade, inventory, logistics and other economic factors."
According to the sources, in March 2022, due to concerns about Russian oil being pushed out of the market and the resulting disruption of traditional trade flows, which led to rising energy prices, India significantly increased its purchases of Russian oil at that time.
The sources said: "If India had not purchased large quantities of Russian oil at discounted prices, combined with OPEC cutting production by 5.86 million barrels per day, global oil prices could have risen far above the $137 per barrel peak in March 2022, which would have exacerbated global inflationary pressures."
The sources also pointed out that Russian oil has never been sanctioned.
The sources stated: "Russian oil has never been sanctioned. It has not been subject to U.S. or EU sanctions so far. Instead, it is subject to the G7-EU price cap mechanism, which aims to limit revenue while ensuring uninterrupted global supply."
The sources also pointed out that Indian oil companies have always complied with the U.S.-proposed $60 price cap on Russian oil.
Original: https://www.toutiao.com/article/1839334905304064/
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