The flow of Russian crude oil to Indian refiners could drop precipitously after the Trump administration targeted Rosneft and Lukoil with fresh sanctions on Wednesday. Bloomberg reported the news, citing unnamed executives from India’s refining industry, who noted that local refining majors such as Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp. buy Russian crude on the spot market, while another major, Reliance, has a long-term supply deal with Rosneft. Russian crude currently accounts for a third of India’s…
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