New Delhi: The Russian military operations in Ukraine have triggered economic sanctions from the West including a major ban on Russian energy imports. The purchase of Russian oil has become one of the most debated issues amid the ongoing conflict.


US President Biden in close consultation with its Allies and partners around the world had imposed ban on imports of Russian oil, natural gas, and coal into the US. Australia, Britain, Canada have also stopped Russian oil purchases but the European Union remains divided.


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Meanwhile refiners in India, the world's third biggest oil importer and consumer, have been buying Russian oil through spot tenders since the war broke out on February 24, taking benefit of deep discounts as other buyers back away.


India has booked at least 16 million barrels of Russian oil since the invasion, close to the level of its imports for all of 2021, Reuters calculations show.


On the other hand, the White House has reiterated that it is not in India's interest to increase its import of energy from Russia and that the Biden administration is willing to work with New Delhi to help it do that.


Know the stance of other nations on Russian oil imports


The European Union bloc's 27 members didn’t clearly reach any decision on the restriction, with Germany concerned about any hasty decisions that could push the economy into recession, and some countries, such as Hungary, opposing any bans, according to Reuters.


However, Germany, aims to phase out Russian oil imports by the end of this year along with Poland, according to sources of Reuters.


Many buyers in Europe are voluntarily shunning Russian crude oil to stay away from reputational damage or face possible legal difficulties.


China's state refiners, such as Sinopec has stuck to existing Russian oil contracts, but is not singing new contracts despite steep discounts to avoid being seen as openly supporting Moscow.


KNOW CURRENT AND FORMER BUYERS OF RUSSIAN CRUDE


Current Buyers


BHARAT PETROLEUM


Indian state-run refiner Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, sources in the know how said. The company has been purchasing Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.


HINDUSTAN PETROLEUM


India's state refiner bought 2 million barrels of Russian Urals for May loading, according to agency sources.


INDIAN OIL CORP (IOC)


India's top refiner on March 23 bought 3 million barrels of Urals for May delivery from Vitol, according to sources. This is the second purchase of Urals by IOC since invasion.


Under its contract with Rosneft, the company has the option to buy up to 2 million tonnes, equivalent to about 15 million barrels, of Urals crude in 2022.


NAYARA ENERGY


Indian private refiner, part-owned by Russia's Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from trader Trafigura.


HELLENIC PETROLEUM


Greece's biggest oil refiner relies on Russian crude for about 15% of its intake. The company earlier this month secured additional supplies from Saudi Arabia. 


ISAB


Italy's largest refinery, owned by Lukoil-controlled Swiss-based Litasco SA, processes Russian and non-Russian crudes.


LEUNA


The land-locked Leuna refinery in eastern Germany, majority-owned by TotalEnergies, is also availing Russian crude by the Druzhba pipeline.


MANGALORE REFINERY AND PETROCHEMICALS (MRPL.NS)


State-run Indian refiner has bought 1 million barrels of Russian Urals crude for May loading via a tender from a European trader, a rare purchase driven by the discount offered.


MIRO


Russian crude continues to account for about 14% of the intake at Germany's largest refinery, Miro, which is 24% owned by Rosneft .


MOL


The Hungarian oil group, which has three refineries in Croatia, Hungary and Slovakia still purchasing Russian crude via Druzhba pipeline, as well as refined products. Hungary is opposed to sanctions on Russian oil and gas.


NEFTOCHIM BURGAS


A Bulgarian refinery, owned by Russia's Lukoil, and with Russian crude accounting for about 60 per cent of its intake, continues to refine Russian crude.


PCK SCHWEDT


Germany's PCK Schwedt refinery, 54 per cent owned by Rosneft , gets crude oil via the Druzhba pipeline.


PERTAMINA


Indonesian state energy firm PT Pertamina is looking to buy crude oil from Russia as it needs oil for a newly revamped refinery. 


PKN Orlen


Poland's largest refiner has stopped buying Russian crude on the spot market, switching to North Sea oil, but still purchasing Urals under previously signed contracts which expire by the end of this year or later.


The company, which operates refineries in Lithuania, Poland and the Czech Republic, saw its profit from refining surge in March thanks to the discount it pays for Russian oil.


SINOPEC


China's state-run Sinopec, Asia's largest refiner, is continuing with purchase of Russian crude under previously signed long-term contracts but is steering clear of new spot deals. read more


FORMER BUYERS


BP


The British oil major, which is abandoning its stake in Rosneft, will not enter new deals with Russian entities for loading at Russian ports, unless "essential for ensuring security of supplies".


ENEOS


Japan's biggest refiner has stopped buying crude oil from Russia, while some cargoes signed under previous agreements will arrive in Japan until around April.


ENI


The energy group, 30.3% owned by the Italian government, is suspending purchases of Russian oil.


No Russian crude will be used at Germany's Bayernoil refinery, in which Eni and Rosneft have stakes.


EQUINOR


Norway's majority state-owned energy firm has stopped trading Russian oil as it winds down its operations in the country. read more


GALP


The Portuguese oil and gas company has suspended all new purchases of petroleum products from Russia or Russian companies.


GLENCORE


The global mining and trading firm, which holds 0.57% stake in Rosneft, said it would continue to honour its obligations under previously signed contracts, but would "not enter into any new trading business in respect of Russian origin commodities unless directed by the relevant government authorities".


NESTE


The Finnish refiner has Russian oil contracts until the end of the year, but is not making any new supply agreements. read more


PREEM


Sweden's largest refiner, owned by Saudi billionaire Mohammed Hussein al-Amoudi, has "paused" new orders of Russian crude, which accounted for around 7% of its purchases, replacing them with North Sea barrels.


REPSOL


The Spanish company has stopped buying Russian crude oil in the spot market.


SHELL


The world's largest petroleum trader will stop buying Russian crude and phase out its connection in all Russian hydrocarbons.


TOTALENERGIES


The French oil major won't sign new contracts in a bid stop buying Russian crude oil and petroleum products by the end of this year.


VARO ENERGY


The Swiss refiner, which owns 51.4 per cent in Germany's Bayernoil refinery, said it did not plan to enter into new deals to buy Russian crude.


(Compiled from Reuters)