Reliance Refutes Reports of Iranian Oil Purchases

Reliance Industries denies purchasing Iranian crude oil despite rumors following the US lifting sanctions temporarily. The company maintains its stance since sanctions tightened in 2018, ceasing Iranian oil imports. Iran, cut off from SWIFT, faces challenges in receiving payments despite potential purchases under the new waiver.

Reliance Industries has firmly dismissed claims that it has purchased crude oil from Iran following the temporary cessation of US sanctions amid ongoing geopolitical tensions.

In an official statement, Reliance described media reports regarding such purchases as unfounded, highlighting its continued adherence to US sanctions that have been in place since 2018, which led to a halt in Iranian oil imports.

Despite the recent waiver allowing for the acquisition of Iranian oil at sea, Reliance reiterated its stance, while ongoing financial restrictions on Iran, including a ban from the SWIFT system, raise challenges for global trade and transaction payments for Iranian oil.

(With inputs from agencies.)