Russian oil import: IndianOil says will abide by all applicable sanctions

Indian Oil Corporation (IOC), the nation’s biggest oil company, will comply with all applicable sanctions, Chairman Arvinder Singh Sahney said on Monday, steering clear of remarks on purchases from Russia.

Indian refiners are likely to scale back on the import of Russian oil to avoid secondary sanctions on shipping and banking after the US imposed fresh sanctions with a view to curbing Moscow’s earnings from oil sales.

“We will abide by all sanctions imposed by the international community,” he said.