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The Economic Times

Economy / The Economic Times

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State Bank of India shuns Russian oil payments despite US reprieve

Despite a temporary US waiver, State Bank of India is hesitant to process payments for Russian oil imports. Citing concerns over potential risks to its global loan portfolio and reputation, the bank's cautious stance highlights the ongoing challenges in reviving financial channels for India's crude purchases amidst geopolitical tensions and significant US business exposure.

10 Mar 2026 3:04 pm