Key insights
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1
Shift in Oil Purchasing
Indian refiners are changing their oil sourcing strategies.
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2
Impact of US Sanctions
US tariffs and sanctions are affecting India's oil imports.
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3
Reliance on Russian Oil
India's previous dependence on discounted Russian crude is declining.
Takeaways
The halt in Russian crude purchases by Indian refiners signifies a major shift in the country's oil import strategy, influenced by geopolitical factors and trade negotiations with the US.