Indian refiners brace for pricier crude after September as Russia sanctions loom
India's state-run oil refiners are preparing for increased crude costs after September due to potential US tariffs on Russian oil imports. The US Senate passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which could impose tariffs up to 100% on major importers. Tenders for new supplies are expected around mid-August, contingent on availability and pricing.