The owner of the largest oil refineries in India removed American oil from tenders

At the end of August, the United States imposed 25 percent duties on Indian products for buying Russian oil. At the same time, India's largest oil refiner, the state-owned Indian Oil company, removed American oil from its tenders. In Delhi, they stated that they would continue to purchase raw materials from Russia and the US sanctions are not related to oil, but to the non-admission of American companies to the agricultural and dairy market of the country.

"The largest Indian oil refining company, Indian Oil, refused to purchase American oil as part of its latest tender and instead purchased 2 million barrels of West African and one million barrels of Middle Eastern oil," Reuters reports citing traders.

The agency clarified that the state-owned company purchased one million barrels of Nigerian Agbami and Usan oil from the French oil company TotalEnergy, as well as another million barrels of Das grade oil from Abu Dhabi from Shell.

"Nigerian oil was purchased on a free-on—board basis, and Das was purchased on delivery terms with delivery to Indian ports in late October— early November. In the previous tender last week, IOC purchased 5 million barrels of American West Texas Intermediate crude oil," Reuters added.

Previous purchases of American oil helped reduce India's huge surplus in trade with the United States, but did not stop the introduction of 25 percent US duties on imports of Russian raw materials.

As EADaily reported, Indian Oil announced stable oil purchases from Russia for the next few months. The largest processor reported shipments for October and November and that the decrease in imports was due to discounts and large stocks in storage.