Reliance Industries, India’s biggest importer of Russian crude oil, will abide by western sanctions against Moscow, while maintaining its relationship with its current supplies.
“As is customary in the industry, supply contracts evolve to reflect changing market and regulatory conditions. Reliance will address these conditions while maintaining the relationships with its suppliers,” a spokesperson for India’s biggest firm by market cap, told Reuters in an emailed statement on Friday (25 October 2025), without mentioning its contract with Rosneft—one of the two Russian oil producers slapped with fresh sanctions.
The European Union, United Kingdom and the United States have imposed a raft of sanctions against Russia over its war in Ukraine, including fresh US sanctions targeting Russia’s two top oil producers Lukoil and Rosneft. The US has given companies until 21 November to wind down their transactions with the Russian oil producers.
The EU, which has previously said that from 21 January it will not take fuel produced at refineries that received or processed Russian oil 60 days prior to bill of lading date, adopted a 19th package of sanctions on Thursday.
Billionaire Mukesh Ambani-controlled RIL, which operates the world’s biggest refining complex at Jamnagar, Gujarat, has a long-term deal to buy nearly 500,000 barrels per day of crude oil from Rosneft.
The company, which also buys Russian oil through intermediaries, said that its diversified crude oil purchases will help it navigate European sanctions without specifying if it would halt purchases of Russian oil for its Jamnagar refinery.
“Reliance is confident that its time-tested, diversified crude sourcing strategy will continue to ensure stability and reliability in its refinery operations for meeting the domestic and export requirements, including to Europe,” the spokesperson told Reuters in the email.
On Friday, RIL shares rose 0.23% to ₹1451.45 apiece on the BSE even as the benchmark Sensex ended the day 0.41% lower at 84,211.88 points.