Reliance Vows To Comply With Western Russia-Oil Sanctions
In a Sunday statement, Indian energy giant Reliance Industries Ltd confirmed that it will abide by sanctions imposed by the United States, United Kingdom and European Union on Russia, while continuing its existing supplier relationships. The company said its well-established and diversified crude-oil procurement strategy will ensure refinery operations remain stable.
Jamnagar Refinery Operations
Reliance, which operates the sprawling Jamnagar refinery complex in Gujarat and is chaired by Mukesh Ambani, noted that supply contracts are adjusted as regulatory and market conditions evolve. The statement did not explicitly commit to halting imports of Russian crude via its long-term deal with Rosneft Oil Company, which supplies nearly 500,000 barrels per day under the existing arrangement.
Sanctions And Compliance Measures
The sanctions updated this week target Russian oil producers and refined-product flows, giving companies until 21 November to wind down certain dealings with Russian oil firms. Reliance said it complies with existing EU guidelines on the import of products derived from Russian oil and will rework sourcing terms if required.
Ensuring Supply Stability
By maintaining flexibility in its sourcing and careful monitoring of sanction regimes, Reliance aims to keep both domestic fuel supply and export commitments on track amid heightened geopolitical risk.
