Reliance Industries (RIL) on Friday said it is assessing the implications of recent restrictions announced by the US, the UK, and Europe on crude oil imports from Russia, and “will be adapting the refinery operations” to meet the compliance requirements.
Reliance is the country’s largest buyer of Russian crude, accounting for roughly half of the country’s 1.7 million barrels per day of imports from Moscow. “We have noted the recent restrictions announced by the European Union, United Kingdom and the United States. Reliance is currently assessing the implications, including the new compliance requirements,” a company spokesperson said.
“It remains fully committed to maintaining its longstanding and impeccable record of adherence to applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements,” the spokesperson added.
Earlier in the week, the Donald Trump administration announced sanctions on Russian state-run oil giants Rosneft and Lukoil, which account for about 60% of the volumes purchased by Indian refiners. The UK has also announced sanctions on these firms.
Additionally, the European Union has barred import of fuel made from Russian crude starting January 2026.
The spokesperson also said the company will comply with the EU’s guidelines on the import of refined products into Europe.
“Whenever there is any guidance from the Indian Government in this respect, as always, we will be complying fully. Reliance has consistently aligned itself with the objectives of ensuring India’s energy security,” he said.
As is customary in the industry, supply contracts evolve to reflect changing market and regulatory conditions, the spokesperson said , adding :”Reliance will address these conditions while maintaining the relationships with its suppliers. Reliance is confident that its time-tested, diversified crude sourcing strategy will continue to ensure stability and reliability in its refinery operations for meeting the domestic and export requirements, including to Europe.”
