Indian refiners turn to Russian oil cargoes at sea after US grants temporary waiver

New Delhi, Mar 6 (PTI) – Indian refiners have begun buying some of the over 15 million barrels of Russian crude currently floating on tankers near the country, as they move to offset supply concerns arising from disruptions in the Middle East.

Sources said refiners stepped up purchases after the US Treasury Department issued a 30-day licence allowing India to buy Russian oil cargoes currently stuck at sea.