Reliance Increases Crude Imports From Middle East, U.S. Amid Russian Crude Sanctions: Report

• Reliance has been India’s largest buyer of Russian crude this year under a long-term deal with Rosneft
• U.S. sanctions two major Russian producers, Rosneft and Lukoil
• Indian OMCs are reviewing their Russian oil purchase to ensure compliance

India’s largest private oil refiner, Reliance Industries, has reportedly ramped up crude purchases from the Middle East and the United States following Washington’s sanctions on two major Russian producers, Rosneft and Lukoil.

Reliance has secured several grades, including Saudi Arabia’s Khafji, Iraq’s Basrah Medium, Qatar’s Al-Shaheen, and US West Texas Intermediate (WTI) crude, with cargoes expected to arrive in December or January, according to a Bloomberg report on Friday.

In total, Reliance has purchased at least 10 million barrels from the spot market this month, with Middle Eastern grades accounting for the majority of the purchases, the report added.

Reliance has been India’s largest buyer of Russian crude this year under a long-term deal with Rosneft. Following the US sanctions, the conglomerate is now considering halting Russian oil imports entirely to avoid exposure to potential penalties.

A company spokesperson told Reuters that Reliance will remain “fully aligned with Government of India guidelines” as it reassesses its import mix.

Other Indian refiners, including Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp, are also reviewing their Russian oil sourcing to ensure compliance.

Analysts expect Russian crude flows to India to decline sharply, except for deliveries to Rosneft-backed Nayara Energy.

India has long maintained that its energy policy is driven by price stability and reliable supply, but the latest US sanctions could prompt a shift. This comes as New Delhi engages with Washington on a trade deal aimed at sharply reducing the current 50% tariffs on Indian goods.

Shares of Reliance Industries closed 0.2% higher at ₹1,451.1 on Friday. Spot Brent was up 0.2% at $66.09 per barrel.