Refiners in India — in particular Reliance Industries (RIL) — are poised to sharply reduce imports of Russian oil after the Donald Trump administration announced sanctions on state-run oil giants Rosneft and Lukoil. The two companies account for about 60% of the volumes purchased by Indian refiners. RIL, sources said, will have to stop importing oil under its long-term deal to buy nearly 500,000 barrels per day of crude from Rosneft. RIL, India’s largest buyer of Russian crude, accounting for roughly half of the country’s 1.7 million barrels per day of imports from Moscow, has no option but to recalibrate its imports.