India to Ease Russian Oil Purchases as Higher US Levies Loom

Refiners in India, among the largest buyers of Russian crude, are planning to trim their purchases in the coming weeks, a modest concession to Washington’s hawks less than a day ahead of a hike in US tariffs, but also a signal that the country has no plans to sever ties with Moscow.

State-run and private processors, including heavyweight Reliance Industries Ltd., are expected to buy 1.4 million-to-1.6 million barrels a day for October loading and beyond, said people with knowledge of the matter who asked not to be identified because they’re not authorized to speak publicly.