Indian refiners have stopped buying crude oil from Chinese sellers, according to a Reuters report that cited unnamed sources. The move, according to the report, comes as a result of new legislation passed by Indian lawmakers that aims to restrict imports from the country’s neighbors after bilateral relations with China deteriorated following a border clash that involved fatalities on the Indian side. Earlier this month, Indian refiners stopped chartering Chinese-owned or China-flagged tankers for oil and fuels, according to a Bloomberg report, also citing unnamed sources. Vessels owned or registered by China were prohibited from taking part in tenders for oil tankers that import crude oil into India or export refined petroleum products out of India, Bloomberg’s sources said, adding that Indian state oil companies had plans to ask that oil traders did not use Chinese vessels for delivering oil to them. Chinese-Indian relations have never been warm, to […]