Reliance to Comply with EU Oil Sanctions, Assesses Russian Import Impact
Reliance Industries announced it is evaluating the implications of new Western sanctions on Russian oil and will comply with European Union guidelines for refined product imports.
Key Developments
- Reliance assessing new EU, UK, and US restrictions on Russian crude imports
- Company commits to following EU guidelines for refined product exports to Europe
- Operations being adapted to meet compliance requirements while ensuring energy security
Official Statement
In a detailed response, a Reliance spokesperson stated: “We have noted the recent restrictions announced by the European Union, the United Kingdom, and the United States on crude oil imports from Russia and export of refined products to Europe. Reliance is currently assessing the implications, including the new compliance requirements. We will comply with the EU’s guidelines on the import of refined products into Europe.”
The company emphasized its consistent alignment with Indian government guidance and commitment to maintaining India’s energy security. Reliance maintains it will preserve its “longstanding and impeccable record” of regulatory compliance while adapting refinery operations.
Political Context
The development follows US President Donald Trump’s claim that India would stop buying Russian oil, though this remains unconfirmed by the Modi government. The announcement sparked political controversy, with Congress leader Jairam Ramesh criticizing: “Modi proposes, Reliance disposes, Trump exposes.”
The opposition has questioned the government’s foreign policy approach, alleging it has “completely collapsed” and urging greater transparency with opposition leaders.
