Weighing impact of US ban on Russian oil: RIL

Company says it has consistently aligned itself with the objectives of ensuring India’s energy security

- RAKESH KUMAR New Delhi

RELIANCE Industries, which owns India's largest refinery complex in Jamnagar, said it is currently assessing the implications of sanctions announced by the European Union, the United Kingdom, and the United States on crude oil imports from Russia.

Reliance, which has a 25-year term contract with Russia's Rosneft to buy up to 500,000 barrels per day of crude, also stated that it will comply with the EU's guidelines on the import of refined products into Europe.

According to data, Russia currently supplies about 35% of India's total crude imports, most of which are purchased by private refiners Reliance Industries Ltd and Nayara Energy.