Indian Oil Corporation (IOC) has announced that it will comply with all applicable international sanctions,  including those recently imposed by the United States Department of the Treasury on major Russian oil producers, amid shifting global supply dynamics.

The statement comes in the wake of fresh US sanctions targeting Rosneft and Lukoil, Russia’s key crude exporters, which have disrupted global flows and prompted Indian refiners to reassess sourcing strategies.

Also Read: U.S. Hikes Tariffs on India to 50% Amid Tensions Over Russian Oil

IOC Chairman Arvinder Singh Sahney reiterated that although his company would abide by the sanctions, it would not comment specifically on its ongoing crude imports from Russia. Russian oil accounted for about 21 % of IOC’s import basket between April and September 2025.

Industry sources suggest that Indian refiners, including private players, are pausing new orders for Russian supplies and evaluating alternatives from Middle Eastern and other non-Russian sources to avoid exposure to secondary sanctions on banking, shipping and payment channels.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.

"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!