Core Viewpoint - Despite pressure from the United States, India continues to purchase Russian oil, indicating a strong commitment to its energy needs and strategic partnerships [1][2]. Group 1: Oil Purchases - Indian Oil Corporation has made payments for five batches of Russian oil scheduled for delivery in December, totaling approximately 3.5 million barrels of Russian ESPO crude [1]. - The procurement process includes a requirement that the oil must not come from entities sanctioned by the US, UK, EU, UN, or India [2]. Group 2: Strategic Positioning - The CFO of Indian Oil Corporation stated that the company has no intention of abandoning cooperation with Moscow, as long as transactions comply with sanction regulations [2]. - Indian Oil Corporation is maintaining regular procurement of Far East Russian crude while also considering low-sulfur crude offers from West Africa and the US [1].

Core Points - Despite U.S. pressure, India continues to purchase Russian oil, with Indian Oil Corporation (IOC) making payments for five batches of oil to be delivered in December [2] - IOC has procured approximately 3.5 million barrels of Russian ESPO crude oil at prices close to Dubai quotes, scheduled for delivery at eastern Indian ports [2] - IOC's procurement documents indicate plans to buy both Russian ESPO and Sokol crude oil for early next year, while also considering low-sulfur crude offers from West Africa and the U.S. [2] - The crude oil is expected to arrive at Indian ports between late January and early February [2] - IOC's CFO Anuj Jain stated that the company intends to maintain cooperation with Moscow as long as transactions comply with sanctions regulations [2]

Core Viewpoint - India's oil procurement is primarily based on market supply conditions [1] Group 1 - The Indian Ministry of External Affairs emphasizes that oil purchasing decisions are influenced by the availability of supply in the market [1]