Reliance Industries Ltd (RIL), one of India’s largest importers of Russian crude oil, said on Friday that it is assessing the implications of the latest sanctions imposed by the European Union, the United Kingdom and the United States on Russian crude and refined products.
In a statement, RIL said, “We have noted the recent restrictions announced by the European Union, United Kingdom and the United States on crude oil imports from Russia and export of refined products to Europe. Reliance is currently assessing the implications, including the new compliance requirements.”
RIL added that it would “fully comply” with all applicable EU guidelines governing refined product exports to 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,” the company said.
The move comes after US President Donald Trump announced fresh Ukraine-related sanctions against Russia, targeting major oil firms such as Lukoil and Rosneft. The measures reflect Washington’s growing frustration with Moscow and are expected to tighten scrutiny on global refiners dealing in Russian energy.
Reliance, which operates the world’s largest refining complex at Jamnagar in Gujarat, processes about 1.4 million barrels of crude per day. It remains India’s largest buyer of Russian oil, sourcing both through long-term agreements and spot market deals.
The company reaffirmed its “longstanding and impeccable record” of complying with global sanctions and regulatory frameworks. “As is customary in the industry, supply contracts evolve to reflect changing market and regulatory conditions. Reliance will address these conditions while maintaining the relationships with its suppliers,” the statement noted.
RIL further said, “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.”
Currently, Reliance has a long-term deal to import about 500,000 barrels per day from Rosneft, alongside additional volumes through intermediaries.