Lakshmi Mittal's energy firm purchased Russian crude shipped on US, EU-sanctioned vessels: Report

However, it is not yet clear who was responsible for transporting the crude oil on sanctioned vessels or if the Mittal-owned firm was aware about the vessels in use.

Steel magnate Lakshmi Mittal’s Punjab-based refinery has purchased Russian crude oil, which was transported on vessels blacklisted by US and the European Union, a report by the Financial Times said on October 29.

Guru Gobind Singh Refinery, a major oil refinery that is co-owned by the billionaire and UK resident’s Mittal Energy, had received at least four crude shipments worth $280 million on sanctioned vessels from Russia, FT said.

The report said crude oil was sent from the Artic port of Murmansk to the Gulf of Oman on US-sanctioned vessels between July and September. The last stretch of shipments to India was undertaken on Samadha, which is blacklisted by EU and not the US, the report said.

Moreover, these vessels adopted “deceptive practices” to hide their actual positions by turning off the transponders or actively trying to falsify their locations, it said.

However, it is not yet clear who was responsible for transporting the crude oil on sanctioned vessels or if the Mittal-owned firm was aware about the vessels in use.

India became the top buyer of seabourne Russian crude after Moscow's Ukraine invasion in 2022, buying 1.9 million barrels per day in the first nine months of 2025, or 40% of Russia's total exports, according to the International Energy Agency.

Many Indian refiners have paused new orders for Russian oil since US sanctions last week on Moscow's top two crude exporters as they await clarity from the government and suppliers, with some turning to the spot market for alternatives, industry sources said.

US President Donald Trump last week imposed sanctions on Rosneft and Lukoil, Russia’s two largest oil companies, in an attempt to pressure President Vladimir Putin to end the war in Ukraine.

With agency inputs