Reliance to resume Russian oil imports: Mukesh Ambani-led Reliance Industries Ltd could soon resume Russian oil imports after a brief pause, according
to a Reuters report which cited sources close to the matter. The report said that RIL, the operator of the world’s biggest oil refining complex, is set to receive sanctions-compliant Russian oil in February and March after one-month pause. Reliance last received Russian crude in December after securing a one-month US concession that allowed it to wind down dealings with the sanctioned Russian oil producer Rosneft beyond a November 21 deadline, according to the report. Like other Indian refiners, Reliance will buy Russian oil from non-sanctioned sellers, sources told Reuters, without elaborating on the number of February and March cargoes that the refiner has booked. However, it is not clear if the private refinery will continue to buy Russian oil beyond March. Despite Reliance's return, India's overall Russian oil imports are expected to stay subdued through February and March, the sources added. Reliance had been importing Russian crude under a long‑term agreement with Rosneft for 500,000 barrels per day (bpd) for its 1.4 million bpd Jamnagar refinery complex in Gujarat, as per Reuter’s report. The European Union has said from January 21 it will not take fuel produced at refineries that received or processed Russian oil 60 days prior to the bill-of-lading date. Reliance has said it will process the cargoes that arrived after November 20 at its India-focused 660,000 barrels per day plant, allowing it to continue selling fuels to the EU from its 704,000 bpd export-oriented refinery, the report added. A separate Reuters report said that Indian refiners are redrawing crude import strategies to shift away from top supplier Russia and boost imports from the Middle East, a move that could help New Delhi clinch a trade deal with the United States to lower tariffs. India became the top buyer of discounted Russian seaborne crude after the 2022 outbreak of war in Ukraine, but the trade drew backlash from Western nations targeting Russia's energy sector with sanctions, saying oil revenues help it fund the war, the report added. Last week, RIL reported its earnings for the third quarter ended December 31, 2025. The oil-to-telecom conglomerate reported its consolidated profit after tax (PAT) at Rs 22,167 crore in Q3 FY26 against Rs 21,804 crore in the year-ago period. The company’s revenue from operations was Rs 2.93 lakh crore in the reporting quarter against Rs 2.43 lakh crore in the same quarter of the previous fiscal. Reliance Industries enjoys a market valuation of nearly Rs 20 lakh crore.
