Reliance Industries Considers Reducing Russian Oil Imports Amid Sanctions

Reliance Industries Ltd, India's leading oil refiner, may cut back on Russian crude imports due to new U.S. sanctions on Moscow-linked firms. Reliance, a major buyer of discounted Russian oil, is compelled to 'recalibrate' its purchases to avoid potential penalties and protect its U.S. interests.

India's Reliance Industries Ltd is poised to reduce its imports of Russian crude oil as a response to newly imposed U.S. sanctions on companies linked to Moscow, according to informed sources.

The conglomerate, which operates the world's largest single-site oil refining complex in Gujarat, has been the top buyer of discounted Russian oil in India.

However, Reliance is now preparing to recalibrate its purchasing strategy to forestall any legal repercussions and safeguard its extensive business interests in the United States.

(With inputs from agencies.)