New Delhi, Nov. 17 -- The margins of India's oil marketing companies (OMCs) are unlikely to come under significant pressure despite the United States imposing sanctions on two of Russia's largest crude oil producers, Rosneft and Lukoil, according to a report by Fitch Ratings.

The rating agency said the sanctions, along with the European Union's ban on refined imports derived from Russian crude, are not expected to materially affect the refining margins or credit profiles of the Indian OMCs it rates.

It stated "US sanctions on two of Russia's largest crude oil producers, Rosneft and Lukoil, and the EU's ban on refined imports derived from Russian crude, are unlikely to have a significant effect on the refining margins or credit profiles ...