India already cutting Russian oil imports by 50% after US talks, White House official says

The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50 per cent, a White House official told Reuters on Thursday.

However, Indian sources said the cut was not visible yet, though it could be reflected in import numbers for December or January. Refiners had already placed orders for November loading that included some cargoes for December arrival as well, the sources said.

The Indian government has not yet informed refiners of a request to cut Russian imports, they added.

India’s oil ministry and all of the Indian refiners that buy Russian oil did not immediately respond to Reuters’ requests for comment. REUTERS