Final yr, Reliance Industries Ltd signed a take care of Russian main Rosneft to import almost 500,000 barrels per day.
Revealed On 24 Oct 2025
India’s high importer of Russian oil, the conglomerate Reliance Industries Ltd, says it should abide by Western sanctions, ending a number of days of hypothesis about how the corporate will handle new measures concentrating on Russia’s two largest oil corporations.
Reliance “will likely be adapting the refinery operations to fulfill the compliance necessities”, an organization spokesperson mentioned in an announcement on Friday, whereas sustaining its relationships with suppliers.
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“Each time there may be any steering from the Indian Authorities on this respect, as at all times, we will likely be complying totally,” the assertion added.
On Wednesday, the USA Treasury Workplace of International Belongings Management (OFAC) designated Russian majors Rosneft and Lukoil for the primary time as President Donald Trump turns into increasingly frustrated with Russia’s unremitting warfare on Ukraine.
US Secretary of the Treasury Scott Bessent mentioned the transfer was the results of Russian President Vladimir Putin’s “refusal to finish this mindless warfare” and inspired allies to stick to the brand new sanctions.
The next day, the European Union adopted its nineteenth bundle of measures towards Russia, which features a full transaction ban on Rosneft. The EU has beforehand mentioned that, beginning January 21, it is not going to obtain gasoline imports from refineries that acquired or processed Russian oil 60 days previous to delivery.
Reliance, chaired by billionaire businessman Mukesh Ambani, operates the world’s largest refining advanced in western Gujarat. The corporate has bought roughly half of the 1.7-1.8 million barrels per day (bpd) of discounted Russian crude shipped to India, the information company Press Belief of India reported this week.
In 2024, Reliance signed a 10-year take care of Rosneft to purchase almost 500,000 bpd, Reuters reported on the time. It additionally buys Russian oil from intermediaries.
Reliance didn’t provide particulars on how, precisely, it deliberate to navigate the sanctions – nor the destiny of the 2024 Rosneft settlement – however emphasised it might adjust to European import necessities.
“Reliance is assured its time-tested, diversified crude sourcing technique will proceed to make sure stability and reliability in its refinery operations for assembly the home and export necessities, together with to Europe,” the corporate spokesperson mentioned.
The sanctions additionally arrive as India navigates the fallout from Trump’s tariffs on Indian exports, which rose to 50 percent beginning in August as a penalty for importing Russian oil. China and India are the world’s largest importers of Russian crude.
Trump has claimed multiple times over the previous month that India has agreed to cease shopping for Russian oil as a part of a broader commerce deal, an assertion the Indian authorities has not confirmed.
Neither India’s Ministry of Exterior Affairs nor oil ministries have responded because the sanctions have been introduced on Wednesday.
