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India’s State Refiners Eye Long-Term Russian Oil Deal to Secure Stable Supplies

India's State Refiners Eye Long-Term Russian Oil Deal to Secure Stable Supplies

Indian state-held refiners have started jointly to discuss terms of a potential deal with Russia for long-term supply of Russian oil, a government source with knowledge of the matter told Reuters on Thursday.   Russia has become India’s top oil supplier since the Russian invasion of Ukraine and the Western embargoes and other sanctions on Russian crude sales. India, the world’s third-largest crude oil importer, has snapped up a large part of Russian spot supply over the past two years, but it is now looking to sign…

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