HPCL Says Government Gave No Direction On Russian Oil

HPCL Chairman & Managing Director Vikas Kaushal has clarified that the Indian government has issued no directive to either continue or halt Russian crude oil imports — leaving decisions to refiners’ commercial judgment. Speaking at an investor call while announcing the company results, Kaushal noted that Russian crude accounted for just 13.2% of HPCL’s feed mix in Q1, due mainly to shrinking price discounts — not geopolitical pressure. HPCL is scouting for alternative suppliers, though it remains open to resuming Russian oil if prices become attractive again. This development comes amid rising tensions with the U.S.—where President Trump has imposed additional tariffs on Indian exports—yet India’s energy policy continues on an independent, economically driven trajectory.