U.S. Sanctions Threaten India's Discounted Russian Oil Imports

India is preparing to halt its large-scale purchases of Russian crude oil. For the past three years, the country has bought Russian oil at significant discounts. This profitable trade is now under threat. New U.S. sanctions take effect on Friday, targeting maritime companies that transport Russian oil above a set price. These measures aim to limit the funds Russia earns from its oil exports. The sanctions create a major compliance risk for any company involved in shipping the oil. As a result, Indian refiners are expected to stop their discounted purchases from Russia. This move could force India to seek more expensive oil from other global suppliers.