India is the world’s third-largest oil shopper.
The extension of guidelines might discourage some Indian refiners, primarily non-public firms, from shopping for Russian fuels for re-exports to nations
India plans to increase restrictions on the export of diesel and gasoline after the present fiscal yr ends this month to make sure the provision of refined fuels for the home market, two authorities sources with direct information of the matter stated.
The extension of guidelines might discourage some Indian refiners, primarily non-public firms, from shopping for Russian fuels for re-exports to nations together with these in Europe which have stopped purchases of refined merchandise from Russia because of its invasion of Ukraine.
India, the world’s third-largest oil shopper, imposed a windfall tax on refined gas exports final yr and mandated that firms promote the equal of fifty% of their gasoline exports and 30% of their diesel exports domestically within the present fiscal yr to March 31.
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