Indian Oil Corporation (IOC), the nation’s biggest oil company, will comply with all applicable sanctions, Chairman Arvinder Singh Sahney said on Monday, steering clear of remarks on purchases from Russia.
Indian refiners are likely to scale back on the import of Russian oil to avoid secondary sanctions on shipping and banking after the US imposed fresh sanctions with a view to curbing Moscow’s earnings from oil sales.
“We will abide by all sanctions imposed by the international community,” he said.
He, however, refused to comment on the IOC’s purchases of Russian oil.
Russian oil made up for 21 per cent of the crude oil IOC imports during April-September.
IOC’s subsidiary Chennai Petroleum Corporation Ltd (CPCL) has halved Russian oil imports this month, coinciding with the fresh sanctions the US imposed on Russian oil.
US President Donald Trump, late October 22, imposed sanctions on Russia’s Rosneft and Lukoil, in a bid to pressure Moscow into ending its war on Ukraine. A day l​Indian Oil Corporation (IOC), the nation’s biggest oil company, will comply with all applicable sanctions, Chairman Arvinder Singh Sahney said on Monday, steering clear of remarks on purchases from Russia.
Indian refiners are likely to scale back on the import of Russian oil to avoid secondary sanctions on shipping and banking after the US imposed fresh sanctions with a view to curbing Moscow’s earnings from oil sales.
“We will abide by all sanctions imposed by the international community,” he said.
He, however, refused to comment on the IOC’s purchases of Russian oil.
Russian oil made up for 21 per cent of the crude oil IOC imports during April-September.
IOC’s subsidiary Chennai Petroleum Corporation Ltd (CPCL) has halved Russian oil imports this month, coinciding with the fresh sanctions the US imposed on Russian oil.
US President Donald Trump, late October 22, imposed sanctions on Russia’s Rosneft and Lukoil, in a bid to pressure Moscow into ending its war on Ukraine. A day l ​Latest News [ SOBAN NEWS: International and National ]
