India Refiners Say Russia Oil Flows Will Plunge on Sanctions

Flows of Russian oil to major Indian refiners — a boon for both countries’ economies over the past three years — are expected to fall to near zero after the US imposed sanctions on crude giants Rosneft PJSC and Lukoil PJSC.

Senior executives at the processors said the blacklisting of Russia’s largest producers would make it all but impossible for that supply to continue. They asked not to be named due to the sensitivity of the issue. Transactions involving the two firms need to be wound down by Nov. 21.