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HPCL's Mumbai refinery RelatedPSUs likely to keep buying Russian oil via traders; US sanctions on Russian firms to hit Reliance State-run Hindustan Petroleum Corporation Limited (HPCL) said that the company is not significantly dependent on Russian crude oil as it is not economical for the refiner, ET Now reported citing HPCL chairman's Q2 concall address. Days after US President Donald Trump imposed sanctions on two Russian oil companies, some Indian refiners have paused new orders for Russian oil as they await clarity from the government and suppliers. The oil refiner processed 5% Russian oil in Q2 FY26.However, state-owned Indian Oil Corp. said earlier it would not stop buying Russian oil as long as it is complying with sanctions."Russian crude is not sanctioned. It is the entities and the shipping lines which have got sanctions," Anuj Jain, Indian Oil's finance director, clarified during a post-earnings call. "Today if somebody comes to me with a non-sanctioned entity, and the cap is being complied with, and the shipping is okay, then I will continue to buy it," he said.Earlier on Tuesday, HPCL-Mittal Energy Ltd (HMEL) also suspended purchases of Russian crude oil, clarifying that the vessels, which delivered previous consignments, were not under international sanctions.Live Events HMEL, a joint venture between state-run HPCL and steel tycoon Lakshmi Mittal's Mittal Energy Investments, said it will continue to review its position and comply with government policy and applicable laws.HPCL chairman also announced that HPCL is aiming to double the Chhara LNG terminal capacity to 10 MMTPA.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onhpclrussian crude oilus sanctions on russiaHPCLindustan Petroleum Corporation Limitedindian oilRussian oilhindustan petroleum corporation limited (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onhpclrussian crude oilus sanctions on russiaHPCLindustan Petroleum Corporation Limitedindian oilRussian oilhindustan petroleum corporation limited(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
