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topNew Delhi: India\u2019s crude oil purchase from Russia faces an imminent threat after US President Donald Trump imposed sanctions on two of the biggest Russian oil companies \u2014 Rosneft and Lukoil.<\/p>\ntopNew Delhi: India\u2019s crude oil purchase from Russia faces an imminent threat after US President Donald Trump imposed sanctions on two of the biggest Russian oil companies \u2014 Rosneft and Lukoil.<\/p>\n
According to Kashmir Media Service, the cut-off date for buying crude from the two companies is November 21. This comes less than a week after the UK imposed sanctions on these two companies.<\/p>\n
Analysts in New Delhi said after the sanctions on the two companies, there was a dilemma over sourcing Russian crude oil. The fresh sanctions pose two-pronged obstacles for India \u2014 one, how to pay these Russian companies for the oil after the cut-off date as no bank will allow payment fearing sanctions and second, India and its oil companies could face secondary sanctions from the US if the import continues.<\/p>\n
They said India imports around two million barrels of crude daily from Russia and its main suppliers are Rosneft and Lukoil. They said an option for further import would be possible if the crude oil was offered by Russia through a company that was not sanctioned. Earlier this year, the UK and the US sanctioned Russian energy companies Gazprom Neft and Surgutneftegas.<\/p>\n
India already faces a 50 per cent tariff on goods exported to the US. Half of this tariff is reciprocal and the other half punitive for buying crude oil from Russia. Indian oil importers could curtail imports of Russian oil to ensure they are in compliance with the US sanctions.<\/p>\n
India has become the biggest buyer of Russian oil, sold at a fixed discounted rate after western nations shunned purchases and imposed sanctions on Moscow.<\/p>\n
Through the fresh sanctions, unveiled by Treasury Secretary Scott Bessent, the US made it clear that Washington DC stood ready to take action to stop Russia\u2019s ability to continue with the conflict with Ukraine.<\/p>\n
\u201cGiven President (Vladimir) Putin\u2019s refusal to end this senseless war, the Treasury is sanctioning Russia\u2019s two largest oil companies that fund the Kremlin\u2019s war machine,\u201d Bessent said in a statement. \u201cWe encourage our allies to join us and adhere to these sanctions,\u201d he said.<\/p>\n
Meanwhile, the European Union sanctioned 45 entities, including three India-based firms, for helping Russia\u2019s military-industrial network bypass export curbs imposed after its invasion of Ukraine.<\/p>\n
The measures, announced as part of the EU\u2019s 19th package of sanctions, aim to tighten the economic squeeze on Moscow nearly three years into the war. There was no immediate response from New Delhi to the EU\u2019s move.<\/p>\n
In a statement, the European Council said the newly sanctioned firms were \u201cdirectly supporting\u201d Russia\u2019s military and industrial complex by enabling the circumvention of export restrictions on sensitive technologies.<\/p>\n
These include computer numerical control (CNC) machine tools, microelectronics, unmanned aerial vehicles (UAVs), and other advanced components used in Russia\u2019s weapons systems.<\/p>\n
“These entities will be subject to tighter export restrictions with regard to dual-use goods, as well as items which might generally contribute to the technological enhancement of Russia’s defence sector,” it said.<\/p>\n
The sanctions list includes 45 new entities, of which 17 are based outside Russia. According to the EU, 12 are located in China (including Hong Kong), three in India, and two in Thailand.<\/p>\n
The three Indian firms named in the sanctions notice are: Aerotrust Aviation Private Limited, Ascend Aviation India Private Limited and Shree Enterprises.<\/p>\n","protected":false},"excerpt":{"rendered":"
topNew Delhi: India\u2019s crude oil purchase from Russia faces an imminent threat after US President Donald Trump imposed sanctions on two of the biggest Russian oil companies \u2014 Rosneft and Lukoil. According to Kashmir Media Service, the cut-off date for buying crude from the two companies is November 21. This comes less than a week …<\/p>\n","protected":false},"author":3,"featured_media":186336,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-186335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/kmsnews.org\/kms\/assests\/2025\/10\/deccanherald_2025-10-23_3aeh8btj_file81y02xs3821thzw1f3t.jpg","_links":{"self":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts\/186335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/comments?post=186335"}],"version-history":[{"count":1,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts\/186335\/revisions"}],"predecessor-version":[{"id":186337,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts\/186335\/revisions\/186337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/media\/186336"}],"wp:attachment":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/media?parent=186335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/categories?post=186335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/tags?post=186335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}