US EditionRussia's top Indian oil buyer Reliance says it will abide by Western sanctions
Reliance Industries will comply with U.S. sanctions, planning to reduce imports from Rosneft and Lukoil, which supplied over 35% of India’s crude in September, sources said.
- Reliance Industries will comply with new Western sanctions on Russian oil, according to its spokesperson.
- The US has imposed sanctions on Russia's largest oil producers, Rosneft and Lukoil, requiring all transactions to end by November 21, according to the US Treasury Department.
- Reliance operates the world's largest refining complex and will adjust its refinery operations to meet the latest compliance requirements, maintaining supplier relationships.
- The company believes its diversified crude sourcing strategy will ensure stable refinery operations while meeting compliance requirements.
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Russia’s Oil-Dependent Economy Struggling as Sanctions Begin to Bite, Say Experts
News Analysis U.S. President Donald Trump announced new sanctions on Russia on Oct. 22, targeting its two largest oil companies, Rosneft and Lukoil. A day later, the European Union imposed new measures on Moscow’s shadow fleet, banks, third-country entities, and cryptocurrency providers. These sanctions are part of a concerted effort by the Trump administration and its allies in Europe to put pressure on the Kremlin and stymie its ability to fun…
The American sanctions against Rosneft and Lukoil force some Indian oil groups to change their shoulder rifle. A possible multi-billion dollar blow to Moscow. ...
Russia's top Indian oil buyer Reliance says it will abide by Western sanctions
Reliance Industries Ltd , the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement.
The Siasat Daily
National HeraldReliance Industries says will comply with US sanctions on Russian oil
New Delhi: Reliance Industries on Friday said it will comply with the latest US and other Western sanctions relating to Russian oil and will tweak refinery operations to meet them. The oil-to-retail behemoth said that it is assessing the implications of restrictions announced by the European Union, the United Kingdom and the United States on crude oil imports from Russia and the export of refined products to Europe. “We will comply with the EU’s…
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