Despite the restrictions, India found a way to purchase five shipments of oil from companies not subject to sanctions, reports Reuters.
India resumed procurement Russian oilreports Reuters citing industry sources. According to the agency, the country’s largest oil refining company Indian Oil Corp purchased five shipments of raw materials from non-sanctioned suppliers for delivery in December.
As noted, the details of the transaction and the names of the sellers are not disclosed. A representative of the company’s financial department confirmed that purchases will continue if production and supply volumes comply with established sanctions restrictions. “We act within the permitted parameters,” said the top manager Indian Oil Corp.
Previously, the company canceled deliveries of seven to eight batches Russian oil after the administration announced new sanctions Donald Trump. Then the restrictions affected subsidiaries “Rosneft” And “Lukoil”which temporarily suspended trading. However, now, apparently, the Indian side has found ways to circumvent these restrictions through independent traders.
The resumption of supplies shows that India continues to adhere to a pragmatic energy policy, maintaining a balance between the West and Russia. The country remains one of the largest buyers of Russian oil in Asia, along with China.
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