Lakshmi Mittal’s JV HPCL-Mittal Energy stops buying Russian crude amid US sanctions

HPCL-Mittal Energy Ltd., a joint venture of Lakshmi Mittal’s Mittal Energy and Hindustan Petroleum Corp. Ltd., has stopped buying Russian crude oil. The ships used for the cargo weren’t under sanctions either.

“HPCL-Mittal Energy always acts in full compliance with government policy and regulations,” according to a company statement on Wednesday (29 October 2025). “All transactions and acceptances of shipping deliveries by HMEL are subject to due diligence and compliance procedures.”