India's Hindustan Petroleum Corp is scouting for alternative crudes to protect itself if it were to stop buying Russian oil due to higher prices and sanctions, its chairman Vikas Kaushal said on Friday.

Three years after the US launched a price cap strategy to curb Russia’s oil revenue without destabilizing global markets, President Donald Trump is moving to ratchet up the pressure. On Wednesday, he announced a 25% tariff on Indian imports in retaliation for New Delhi’s continued purchases of Russian crude — and warned China,

Oil prices ticked higher on Thursday, lifted by a sharp drop in U.S. crude inventories and renewed trade tensions following Trump’s new tariffs on Indian imports.