Cherylann Mollan
Reliance Industries is India's largest importer of Russian oil
India's largest conglomerate Reliance Industries, owned by billionaire Mukesh Ambani, has stopped importing Russian crude oil for its export-only refining unit at Jamnagar in the western state of Gujarat.
The move aims to comply with an EU ban on fuel imports made from Russian oil through third countries, which takes effect next year. It also aligns with US sanctions on major Russian oil producers Rosneft and Lukoil, set to kick in on Friday.
"This transition has been completed ahead of schedule to ensure full compliance with product-import restrictions coming into force on 21 January 2026," Reliance said in a statement.
The White House has welcomed the move by Reliance.
"We welcome this shift and look forward to advancing meaningful progress on US-India trade talks," the White House press office said, in a statement to the Washington Post.
Delhi's purchase of Russian oil has been a major sticking point between India and the US. Trump slapped India with 50% tariffs in August, including a 25% penalty for buying Russian oil and arms, which he says was funding Moscow's war on Ukraine - a charge India has denied.
India's purchases of discounted Russian oil shot up from barely 2.5% of imports before the war began in 2022, to around 35.8% in 2024-25.
Reliance is India's largest importer of Russian oil, and accounts for around 50% of Russian oil flows into the country.
The Jamnagar refinery is the largest single-site refining complex in the world - with two separate units dedicated for exports and the domestic market.
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