SINGAPORE/NEW DELHI, Aug 4 (Reuters) - Indian Oil Corp
has bought 7 million barrels of crude from the United
States, Canada and the Middle East, four trade sources said on
Monday, as U.S. President Donald Trump ramped up his criticism
of the country over its purchases of Russian oil.
India is the biggest buyer of seaborne crude from Russia,
which is under Western-led sanctions over its war in Ukraine.
Its main refiners paused buying Russian oil last week as
discounts to other suppliers narrowed after Trump threatened
hefty tariffs on imports from countries that make any such
purchases, Reuters reported last week. Indian government
officials denied any policy change.
On Monday, Trump said on Truth Social he would substantially
raise the import levy on Indian goods, accusing the country of
not only buying massive amounts of Russian oil but "they are
then, for much of the Oil purchased, selling it on the Open
Market for big profits".
India imported about 1.75 million barrels per day of Russian
oil from January to June this year, up 1% from a year ago,
according to data provided to Reuters by trade sources.
IOC, India's largest refiner, bought crude via a tender from
the United States, Canada and the Middle East for September
arrival, the trade sources said on Monday. They declined to be
named because they were not authorised to speak to the media.
The refiner bought 4.5 million barrels of U.S. crude,
500,000 barrels of Western Canadian Select (WCS) and two million
barrels of Das oil produced in Abu Dhabi, the sources said.
The higher-than-normal purchases are partly to replace
Russian barrels, two of the sources said.
Indian state refiners - IOC, Hindustan Petroleum Corp
, Bharat Petroleum Corp and Mangalore
Refinery Petrochemical Ltd - had not sought Russian
crude in the past week or so, Reuters reported last week.
Indian companies do not comment on oil purchases.
In IOC's tender that closed on Friday, P66 and
Equinor ( EQNR ) will each ship 1 million barrels of U.S. West
Texas Intermediate Midland crude while Mercuria will ship 2
million barrels of the same grade, the sources said. Vitol will
deliver 1 million barrels of WTI Midland and WCS, they added.
Trafigura will deliver 2 million barrels of Das.
Prices for the deals were not immediately available.
U.S. criticism of India's oil purchases from Russia
sharpened after New Delhi and Washington failed to reach an
agreement on a trade deal, prompting the Trump administration to
levy a 25% import tariff on Indian goods.