Not under sanctions? Then we will buy Russian oil from you: Indian Oil announced how it will be

India's largest oil refining company will continue to buy Russian oil and will do so through companies that are not under sanctions. The management of Indian Oil told about this at a teleconference with investors.

"Surprise, surprise! It seems that the news about the death of Russian oil in India turned out to be greatly exaggerated," Bloomberg columnist Javier Blas wrote on Twitter. He published a transcript of Indian Oil's teleconference with investors based on the results of the third quarter of 2025.

One of the analysts asked the commercial director of the state-owned company Anuja Jain about whether she would avoid buying Russian oil on the spot market.

"We are absolutely not going to stop purchases if they do not contradict the sanctions. Russian oil is not under sanctions. Individual companies and tankers are subject to restrictions. Therefore, if someone comes to me with an unauthorized company, compliance with the price limit and good delivery, then I will continue to buy," Anuj Jain said.

At the beginning of the year, Gazprom Neft and Surgutneftegaz came under US sanctions. In November, the restrictions will come into force for Rosneft and Lukoil. These companies account for 80% of Russian oil exports.

"Call me a pessimist, a cynic or a skeptic. But I have lived long enough to know that oil will always find a way to find its way — even if it takes some time (and will require additional discounts and assistance from China)," writes Javier Blas.

As EADaily reported with reference to Bloomberg, Indian refineries are considering switching to importing Russian oil through small suppliers that are not under sanctions.

"Indian state oil refineries are considering the possibility of purchasing Russian oil at a discount from small suppliers instead of supplies from energy giants PJSC "Rosneft and PJSC Lukoil, blacklisted by the United States," the agency wrote, citing sources.