US sanctions on Russian cos to hit RIL; PSUs likely to keep buying oil

US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.

- PTI

Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net).

Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil