India, Oct. 29 -- HPCL-Mittal Energy Ltd., a joint venture of Lakshmi Mittal's Mittal Energy and Hindustan Petroleum Corp. Ltd., has stopped buying Russian crude oil. The ships used for the cargo weren't under sanctions either.

"HPCL-Mittal Energy always acts in full compliance with government policy and regulations," according to a company statement on Wednesday (29 October 2025). "All transactions and acceptances of shipping deliveries by HMEL are subject to due diligence and compliance procedures."

HMEL is the first Indian firm to officially announce suspension of Russian oil imports after the US sanctioned two of Moscow's biggest oil firms-Rosneft and Lukoil. The company bought Russian oil on a delivered basis-meaning the supplier m...