7 months ago
Reliance Resumes Russian Oil Imports
Reliance Industries, a big company in India, is going to start buying oil from Russia again in February and March 2026.
They stopped for a month because of some rules, but now they can buy oil from sellers who aren't on the sanctions list.
They used to buy a lot of oil from a Russian company called Rosneft, but now they're also looking at buying more oil from the Middle East.
The European Union has some rules about oil, so Reliance is being careful about where they get their oil from.
They want to make sure they can keep selling fuel to Europe.
The US has put tariffs on Indian goods, including Russian oil, and claims India has stopped buying Russian oil.
India says the tariffs are unfair and that they buy oil to meet their energy needs.
Reliance Industries to resume Russian oil imports in February and March 2026.
Imports will be from non-sanctioned sellers to comply with U.S. and EU regulations.
Reliance had previously imported Russian crude under a long-term agreement with Rosneft.
US Treasury Secretary claims India has stopped buying Russian oil due to 25% tariffs.
India maintains that its oil purchases are guided by energy security needs and US tariffs are unjustified.
- Who
- Reliance Industries Ltd, US Treasury Secretary Scott Bessent, India
- What
- Resumption of Russian oil imports by Reliance, US tariffs on Indian goods
- Where
- Jamnagar refinery complex, Gujarat, India; US
- When
- February and March 2026, August 2023 (tariffs imposed)
- Why
- To secure sanctions-compliant oil after a one-month pause, US tariffs on Russian oil trade
US Treasury Secretary
India
Impact of US Tariffs
US Treasury Secretary
India has stopped buying Russian oil due to 25% tariffs imposed by the US.
India
India maintains that its oil purchases are guided by energy security needs and US tariffs are unjustified.
Key facts
- Company
- Reliance Industries Ltd
- Refinery Complex
- Jamnagar, Gujarat
- Previous Agreement
- 500,000 barrels per day with Rosneft
- Current Imports
- Sanctions-compliant Russian oil in February and March 2026
- EU Restrictions
- No fuel from refineries processing Russian oil 60 days prior to bill-of-lading date
- Import Strategy
- Recalibrating to include more Middle Eastern purchases
- US Tariffs
- 25% on Indian goods, including Russian oil
- Proposed Tariffs
- Up to 500% on secondary purchase and reselling of Russian oil
Quotes
Srinivas T
Chief Operating Officer of Reliance Industries Ltd
“We have faced moments where sanctions were imposed unexpectedly, and we had to cut back.”
thehansindia.com
Sources
“Sources says - In Upcoming February and March-Reliance Industries India is expected to import sanctions-corresponding Russian oil”
India 'stopped' buying oil from Russia, claims US Treasury Secretary
Reliance to resume Russian oil imports in February and March
