Reliance to Halt Imports from Sanctioned Russian Entities Amid Western Pressure

New Delhi: Reliance Industries Ltd (RIL), India’s largest refiner and top buyer of Russian crude, is scaling back its purchases and preparing to cease imports from sanctioned Russian entities to comply with US and EU sanctions and protect its access to Western markets, according to sources and shipping data.

RIL’s Russian crude imports fell 24% in October to 534,000 barrels per day (bpd) — down from September and 23% below the April–September average, data from analytics firm Kpler shows. Russia’s share in Reliance’s crude mix dropped to 43%, from 56% the previous month.

To offset the shortfall, Reliance sharply increased crude imports from Saudi Arabia (up 87%) and Iraq (up 31%), raising the Middle East’s share to 40% of its total crude intake. US supplies nearly doubled to 10%, up from 5% in September.

The October pullback preceded the latest US sanctions on Russian oil majors Rosneft and Lukoil, but was driven by earlier geopolitical uncertainty, including US tariff measures and EU sanctions set to take effect in January 2026.

Sources said the company plans to end imports from sanctioned entities after the November 21 sanctions wind-down deadline, as violating restrictions could expose RIL to secondary sanctions. “Reliance can’t afford to breach sanctions given its US exposure and global investors,” one person familiar with the matter said.

Meanwhile, Rosneft-backed Nayara Energy has increased its Russian crude purchases, remaining fully dependent on those supplies.

Reliance last week reiterated its commitment to comply with international sanctions. The EU, in a clarification, said refiners can continue exporting to Europe if they can segregate Russian crude or prove non-Russian sourcing over the past 60 days.