Indian state refiners stop buying Russian oil as Trump threatens 100% tariffs: Report
Indian Oil, Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery Petrochemical have stopped buying Russian crude oil as US President Donald Trump threatened to impose 100% tariffs on companies that continue to do so, Reuters reported. The state refiners have turned to Middle Eastern spot markets for alternative crude sources. State refiners control 60% of India's total refining capacity.