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 guidelines on the import of refined products into Europe," an RIL spokesperson said.
Reliance Industries said that it remains fully committed to maintaining adherence to applicable sanctions and regulatory frameworks.
The spokesperson also said the company will tweak refinery operations to meet the latest sanctions compliance requirements.
The US government, on October 22, imposed sanctions on Russia's two largest crude oil producers, Rosneft and Lukoil, barring all American entities and individuals from conducting business with them.
Non-US firms could also face penalties if found dealing with the sanctioned companies or their subsidiaries. The US Treasury Department said all existing transactions involving Rosneft and Lukoil must be wound down by November 21.
Russia currently supplies nearly a third of India's crude imports, averaging around 1.7 million barrels per day (mbd) in 2025, of which approximately 1.2 mbd came directly from Rosneft and Lukoil. Most of these volumes were bought by private refiners, Reliance Industries Ltd and Nayara Energy, with smaller allocations to state-owned refiners.
Russian crude flows are expected to remain in the 1.6-1.8 mbd range until November 21, but direct volumes from Rosneft and Lukoil are likely to decline thereafter, as Indian refiners seek to avoid any risk of US sanctions, said Sumit Ritolia, Lead Research Analyst (Refining and Modelling) at Kpler.
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