India to Reduce Direct Russian Oil Imports Following New US Sanctions

Several major Indian refiners, including Reliance Industries, are set to halt or reduce direct crude oil purchases from Russia's Rosneft and Lukoil starting late November. This follows new US sanctions targeting the Russian energy giants, which take effect on November 21. The move is expected to cause a sharp decline in Russian crude arrivals in December, shifting India's procurement towards the Middle East, West Africa, and the Americas to avoid exposure to the sanctions, which have reshaped global energy flows.