Bloomberg has learned about the absence of India's ban on the purchase of Russian oil

Indian authorities have not instructed their state-owned refineries to stop buying oil from Russia, despite threats from US President Donald Trump. This was reported on August 3 by Bloomberg, citing sources.

"India has not instructed its refineries to stop purchasing Russian oil. Officials are trying to meet their energy needs and maintain ties with Moscow without incurring even more anger from US President Donald Trump," the article says.

According to anonymous sources, the decision to stop imports from Russia has not yet been made. However, according to Bloomberg, earlier Indian refineries were instructed to develop plans for oil purchases from alternative suppliers.

"The government has asked state refiners to prepare a plan for alternative sources of oil supplies and the volume of its supplies in the event of a cessation of supplies from Russia," the publication clarifies.

One of the sources noted that reducing or stopping purchases of Russian oil would force India to buy oil from the Persian Gulf countries again, which would cost it more. In addition, Indian Prime Minister Narendra Modi maintains close ties with Russian President Vladimir Putin, Bloomberg writes.

Accelerating trend: oil consistently gains in price amid threats from the United States

Trump's intentions to initiate a trade war through secondary sanctions against Russia are putting pressure on quotes

On August 1, Trump announced India's intention to stop buying oil from Russia. According to him, India will stop importing Russian oil in order to reach a trade deal with the United States.

Later, on August 2, The New York Times (NYT) reported that India would continue to buy oil from Russia, despite the threat of sanctions from Trump. According to the NYT, Russia provides more than a third of oil imports to India, which is the second largest importer of Russian energy after China.

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