India’s leading oil conglomerate, Reliance Industries, has effectively halted purchases of Russian crude following new sanctions introduced by the United States, the European Union, and the United Kingdom, according to the statement issued by the company Reliance Industries on October 24.
Reliance Industries, India’s largest private oil refiner and one of the biggest buyers of Russian crude since 2022, confirmed that it is adjusting its procurement strategy to comply with recent Western restrictions.
The company acknowledged that it is “evaluating the implications” of the newly announced measures and will “fully comply with EU guidance regarding the export of refined products to Europe.”
In its official statement, Reliance noted that it remains “fully committed to compliance with sanctions and regulatory mechanisms” and will align all trading operations accordingly.
“We have taken note of recent restrictions announced by the EU, the United Kingdom, and the United States in connection with imports of crude oil from Russia and exports of petroleum products to Europe,” the company said.
The move signals a major shift in India’s oil trade patterns. Reliance—operator of one of the world’s largest refining complexes in Jamnagar—has been a central player in processing discounted Russian crude and re-exporting refined fuels to global markets, including Europe.
The new EU regulations are designed to tighten oversight of refined product exports that may contain Russian-origin oil, effectively limiting such trade routes.
Reliance emphasized that its long-established diversification strategy in oil sourcing will continue to ensure “stability and reliability of refinery operations” to meet both domestic and export needs. The company added that contracts for oil supplies are routinely adjusted to reflect “changing market and regulatory conditions.”
Earlier, Reuters reported that major Chinese state-owned oil companies, including PetroChina and Sinopec, suspended seaborne imports of Russian crude following new US sanctions targeting Rosneft and Lukoil. Pipeline deliveries to China remain unaffected, but the decision marks a significant reduction in state-led purchases of Russian oil.
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