Trump sanctions to hit India: Will New Delhi’s crude oil imports from Russia stop? Here’s what analysts say

Trump sanctions to hit India: Indian refiners are preparing to scale up crude oil purchases from the Middle East, Latin America, and the United States to compensate for reduced imports from Russia, analysts told news agency PTI.

This comes after the US government on Wednesday imposed fresh US sanctions on two of Moscow’s biggest producers, Rosneft and Lukoil, barring all American entities and individuals from conducting business with them. The Treasury Department has directed that all existing transactions with these companies be wound down by November 21.