“In India, the largest buyer of Russian oil announced compliance with Western sanctions – ReutersIndia’s leading buyer of Russian oil, Reliance Industries Ltd, will comply with Western sanctions against Moscow. The company has
a long-term agreement to purchase almost 500,000 barrels of crude oil per day from Russian oil giant Rosneft.
”, — write: unn.ua
DetailsReliance, controlled by billionaire Mukesh Ambani and operating the world’s largest oil refining complex in Jamnagar, in the western state of Gujarat, has a long-term agreement to purchase nearly 500,000 barrels of crude oil per day from Russian oil giant Rosneft (ROSN.MM), opens a new tab.
The European Union, the United Kingdom, and the United States have imposed a series of sanctions against Russia over its war in Ukraine, including new US sanctions on Thursday targeting two leading Russian oil producers – Lukoil and Rosneft. The US gave companies until November 21 to wind down their operations with Russian oil producers.
The EU, which previously stated that from January 21 it would not accept fuel produced at refineries that received or processed Russian oil within 60 days prior to the bill of lading date, adopted its 19th package of sanctions on Thursday.
Sanctions against Rosneft and Lukoil: Netherlands and Romania talk about selling Russian plants in their territories – Politico24.10.25, 13:30 • 2848 views
As is customary in the industry, supply contracts are amended to reflect changing market and regulatory conditions. Reliance will take these conditions into account while maintaining relationships with its suppliers.
Reliance previously stated that it would adhere to EU guidelines regarding the import of refined products.
The refinery stated that its diversified crude oil purchases would help it navigate European sanctions, without specifying whether it would cease purchases of Russian oil for its 1.4 million barrels per day refining complex in the western state of Gujarat.
Reliance is confident that its time-tested diversified crude oil supply strategy will continue to ensure the stability and reliability of refinery operations to meet domestic and export needs, including to Europe.
AdditionOil prices are ending the week with a confident rise – US sanctions against two major Russian oil companies raised fears of supply disruptions, which pushed the market higher.