India's state-owned refineries have stopped buying Russian oil after Trump's statements, Reuters reports.
Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum, and Mangalore Refinery have stopped buying Russian oil amid Trump's threats to cut discounts on Russian oil and impose 100% tariffs on countries cooperating with Moscow.
Instead, the refineries have started buying crude from West Africa and the Middle East. Although the largest buyers remain private companies, Reliance and Nayara, India's state-owned companies account for more than 60% of the country's refining capacity.
