Reliance Industries Ltd. (RIL), India’s largest oil refiner, has stopped purchasing Russian crude oil for processing at its export-only refinery from November 20 onwards, according to a report on Thursday. The company confirmed that the refinery dedicated exclusively to exports will now process and export only non-Russian crude oil going forward.
This major shift comes after the United States imposed fresh sanctions on two of Russia’s biggest oil producers—Lukoil and Rosneft. The sanctions aim to curb Moscow’s energy revenues amid the ongoing war in Ukraine. With these restrictions tightening, global companies dealing with Russian-origin oil face increased compliance risks.
Reliance, which operates one of the world’s largest refining complexes, has been among the major buyers of discounted Russian crude since the Ukraine conflict began. However, the US clampdown appears to have prompted the company to reassess sourcing for its export-linked operations.
While the company continues to operate its domestic-facing refinery separately, the export-only unit will now exclusively rely on non-Russian supplies, marking a significant adjustment in its procurement strategy.