Some Indian refiners are looking to import diesel and other refined products from Russia for local consumption to free the locally produced products for exports to the West, a report by the Economic Times (ET) said. The European Union (EU) announced a ban on exporting refined petroleum products from Russia effective February 5.
“Our people are exploring if we can source cheaper products from Russia…If India can import so much crude, it can, of course, import products as well. But imports of products must make commercial sense. We are in the business to make money,” an executive at an Indian refiner told ET.
