05.11.2025, 11:20
India's ONGC will continue to buy Russian oil
Source: OREANDA-NEWS
OREANDA-NEWS India's ONGC will continue to buy Russian oil, CEO Arun Kumar Singh told reporters on the sidelines of ADIPEC.
"We will do everything that is allowed," he replied when asked if the company had stopped buying Russian oil due to the sanctions. When asked if it is allowed to buy oil from traders who are not subject to sanctions, the head of ONGC said: "At the moment, yes."
On October 22, the U.S. Treasury Department imposed sanctions on Lukoil and its subsidiaries, where it owns a stake of more than 50%. All operations with them must be completed by November 21. And the EU, as part of the 19th package of sanctions, published on October 23, imposed restrictions on Lukoil's Litasco Middle East DMCC trading division, headquartered in Dubai.
"We will do everything that is allowed," he replied when asked if the company had stopped buying Russian oil due to the sanctions. When asked if it is allowed to buy oil from traders who are not subject to sanctions, the head of ONGC said: "At the moment, yes."
On October 22, the U.S. Treasury Department imposed sanctions on Lukoil and its subsidiaries, where it owns a stake of more than 50%. All operations with them must be completed by November 21. And the EU, as part of the 19th package of sanctions, published on October 23, imposed restrictions on Lukoil's Litasco Middle East DMCC trading division, headquartered in Dubai.
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