IOC Seeks Non-Sanctioned Russian Oil, Shifts to US, West Africa
Update: 2025-11-12
Description
Indian Oil Corporation (IOC) seeks to buy non-sanctioned Russian crude oil for early 2023 delivery, as per a Bloomberg report. The tender also includes requests for U.S. and West African crude. IOC, following U.S. sanctions on Russian oil producers, has been buying from unsanctioned entities, with December deliveries expected. Indian refiners are now pivoting away from Russian oil, acquiring more from the Middle East and Americas due to anticipated reduced Russian loadings.
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