NEW DELHI
Indian Oil Corporation Limited has signed a deal with a Russian oil company to import 3 million barrels of crude, Indian media outlet quoted sources as saying.
According to Indian media outlet, it’s a company-to-company deal.
While Western countries have imposed sanctions, including the US’ oil import embargo, on Russia in response to Moscow’s attack on Ukraine, there are no restrictions on Indian oil companies for buying crude oil from Russian oil companies.
That drew a response from the US, which said India importing discohaunted crude oil from Russia wouldn’t amount to a violation of sanctions; it would imply supporting the Russian invasion of Ukraine.
