Reliance Continues Russian Oil Imports Under US Concession

Reliance Industries has resumed Russian oil imports for its Jamnagar refinery's domestic unit, utilizing a one-month US concession for pre-existing Rosneft contracts and sourcing from non-sanctioned entities amidst international sanctions. This allows the company to manage its energy supply while navigating geopolitical complexities.

• Reliance resumed Russian oil imports after a brief pause due to US sanctions.
• A one-month US concession allows winding down of pre-existing Rosneft oil contracts.
• Imports are directed to Jamnagar's domestic-focused refinery to comply with EU rules.
• Sanctions on Rosneft were imposed in October, with a wind-down deadline of November 21.
• Reliance also sources Russian crude from non-sanctioned suppliers.
• The final cargo under the US concession arrived around December 17.

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