Indian Refiner Halts Russian Oil Purchases Amid New US Sanctions

HPCL-Mittal Energy Ltd (HMEL) has suspended purchases of Russian crude oil, becoming the first Indian refiner to do so following new U.S. sanctions against Moscow's largest oil firms, Rosneft and Lukoil. The move signals a potential disruption to the significant energy trade between India and Russia. The sanctions' impact was further highlighted when an India-bound tanker carrying Russian crude reversed its course in the Baltic Sea. Indian refiners are now assessing the new landscape to ensure compliance with international restrictions.