India halts new Russian oil orders as refiners await sanction-clarity

Major Indian refiners, including Indian Oil Corporation and Reliance Industries, have paused placing new orders for Russian crude oil as they await clarity on recent U.S. sanctions targeting key Russian producers. With previous imports from Russia accounting for nearly 40% of Russia’s oil exports, Indian firms are shifting to spot markets and other suppliers. The move comes amid concerns over compliance, payment-channel risks and global trading disruptions, raising short-term cost and supply risks for India’s refining sector.