State Bank of India and Bank of Baroda informed refiners they will not handle payments for oil bought above the limit. Indian banks have begun blocking payments for "black gold" of Russian origin after the tightening of US sanctions, which affected more than 180 tankers of the "shadow fleet", Gazprom Neft, Surgutneftegaz, insurance companies, and six top managers of oil and gas companies. According to EnergyIntel, the state-owned State Bank of India and Punjab National Bank are the most cautious, while private banks have taken a softer stance.