SBI seeks oil trade data from refiners to avoid U.S. sanctions

In order to prevent accidental processing of payme... moreIn order to prevent accidental processing of payments for Indian oil refiners that might have bought Russian oil beyond the $60 per barrel price cap set by a US-led coalition, State Bank of India (SBI) is taking all necessary precautions. The largest lender in India has asked refiners like Indian Oil Corp., Bharat Petroleum Corp. Ltd, and Hindustan Petroleum Corp. Ltd for information on purchasing prices in order to reduce the risk.