Is India ditching BRICS again? Recent reports indicate a shift in India\'s oil sourcing strategy, raising questions about its relationship with Russia and its BRICS partners. Specifically, India has reportedly halted some Russian oil tanker deliveries, potentially pivoting towards increased US oil purchases.

This comes amid tightening US sanctions on Russian entities. According to Reuters, "India’s refiners have stopped doing business with the Russian tankers and companies sanctioned by the U.S. on Friday, a source at the Indian government told Reuters." This suggests a proactive approach by Indian refiners to comply with international regulations and avoid potential penalties.

The situation is further complicated by the fact that "All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to US sanctions, further complicating the trade..." These sanctions target Russia\'s largest commercial shipping company, Sovcomflot, which has been instrumental in transporting Russian oil globally. This month, "India has decided to shun deliveries made by tankers that have been sanctioned by the U.S. in the latest round. Russia used these tankers to ship oil to..." Indian refiners, effectively disrupting established supply lines.

While concerns have been raised about potential disruptions to India\'s oil supply, the government maintains that "Indian oil refineries have stopped dealing with U.S.-sanctioned oil tankers and entities but the country does not expect disruption to Russian crude supplies during a two". This confidence likely stems from a diversification of sourcing options and the ongoing purchase of Russian oil through other channels.

Interestingly, "The United States has not asked India to cut Russian oil imports as the goal of sanctions and the G7-imposed $60 per barrel price cap is to have stable global oil supplies." This highlights the nuanced approach of the US, which aims to limit Russia\'s revenue stream without disrupting global energy markets. The price cap mechanism, while controversial, seeks to maintain the flow of Russian oil while limiting its profitability for Moscow.

The interplay of these factors – US sanctions, India\'s compliance, and the global oil market – paints a complex picture. While India\'s actions might appear as "ditching BRICS" in the sense of prioritizing compliance with US sanctions over unrestricted trade with Russia, the reality is likely a pragmatic balancing act aimed at ensuring energy security and navigating the geopolitical landscape effectively. India\'s refiners have reportedly stopped dealing with tankers and entities that have been sanctioned by the US. However, the country does not expect any disruption to Indian oil supplies.