India seeks new oil suppliers after Trump's threats to Russia

State-owned Indian oil refiners Bharat Petroleum Corp. and Hindustan Petroleum Corp. are urgently looking for alternative oil suppliers in the Middle East, North Sea and Mediterranean regions. This is what the epravda.com.ua with reference to Bloomberg.

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The publication notes that this is due to Donald Trump's statement about the possible introduction of secondary sanctions against countries that buy Russian oil if Moscow does not agree to a ceasefire in Ukraine.

Against the backdrop of Trump's statement, oil futures rose, with US West Texas Intermediate rising 3,1% on Monday.

India had been buying almost no Russian oil until 2022, but since the war began, it has become the second-largest importer after China. In 2024, Russian supplies accounted for almost 40% of its imports, mostly Urals oil from western ports. Cheap Russian resources have allowed India to reduce purchases from the Middle East and Africa.

Currently, Indian refineries have intensified their search for new suppliers on the spot market to reduce their dependence on Russian oil.

We will remind:

The tanker Andaman Skies, which was carrying 767 barrels of Russian oil for state-owned Indian Oil Corp., was denied entry to an Indian port due to lack of proper certification.

Russia has become the largest supplier of oil to India, overtaking the United Arab Emirates.

India's imports of Russian oil rose in March, almost returning to normal levels after a three-month decline.

Read also on Newsky "Trump set a 'psychological deadline' for Putin to agree to a ceasefire" and look at "Boring Pence" YouTube channels.

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