Reliance Resumes Russian Oil Imports Amid US Waiver and Non-Sanctioned Sourcing

Reliance Industries has resumed importing discounted Russian crude for its Jamnagar refinery. This follows a US waiver for pre-existing contracts and new sourcing from non-sanctioned entities, aiming to stabilize India's oil imports after recent sanctions.

• Reliance Industries resumed importing discounted Russian crude oil.
• Initial imports covered pre-existing contracts under a US one-month waiver.
• New purchases are from non-sanctioned Russian suppliers.
• Oil is directed to Jamnagar refinery's domestic market unit.
• Move aims to mitigate a sharp decline in India's Russian oil imports.
• Export-focused refinery halted Russian crude processing earlier.

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