Indian Oil is purchasing Russian crude oil without sanctioned entities' involvement. The company anticipates a 6-7% growth in gasoline demand and 4% in diesel by 2026. However, petrochemical margins are expected to remain weak due to oversupply,

Indian Oil is buying Russian crude oil cargoes without the involvement of sanctioned entities and expects gasoline demand to grow 6-7% in the fiscal year 2026, the company's chairman said on Tuesday.

Indian oil refiners navigate US sanctions on Russian crude imports by restructuring supply chains with new entities and strategies.

Some are existing outfits that have not been impacted by the punitive measures, while others are newly created, replacing those that are now off-limits

U.S. sanctions on Russia should not affect Moscow's oil trade with India, Pavel Sorokin, Russia's first deputy energy minister, said on Tuesday, adding that it was too early to assess the impact of the latest restrictions.