Reliance Gets One-Month US Waiver for Rosneft Oil Imports

India's Reliance Industries secured a one-month US concession to continue importing Rosneft oil despite sanctions. The waiver allows winding down pre-existing transactions and ensures compliance with international regulations.

• Reliance received a one-month US waiver for Rosneft oil imports.
• US sanctions on Rosneft and Lukoil had a November 21 deadline.
• Reliance states these are 'pre-existing transactions' winding down.
• Around 15 Russian oil cargoes received since November 22.
• Reliance adjusts refining operations for EU compliance.
• India's overall Russian oil imports are projected to decline.

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