The Kharg Island oil terminal, Iran. Most Read from Bloomberg Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation’s refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela. A delegation visiting the US this week reiterated the request in meetings with American officials, a person with knowledge of the discussions said, asking not to be identified as the talks are p ...

India could significantly reduce imports of Russian crude oil if the United States allows purchases of Iranian and Venezuelan oil, Indian officials have told the U.S. Administration this week, a source familiar with the talks told Bloomberg on Thursday. Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West, to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buye ...