Russian Oil: Reliance Halts Russian Crude Imports at Jamnagar SEZ Refinery

This report covers Reliance Industries' decision to halt the import of Russian crude oil for its export-oriented refinery in Jamnagar, Gujarat. The move is in compliance with European Union and United States sanctions targeting Russian oil majors Rosneft and Lukoil, with a wind-down period ending November 21. Reliance stated, 'we'll stay aligned with government's policy.' The company will now source crude from other regions, including West Asia and the EU, for its Special Economic Zone (SEZ) refinery, with all exports to be derived from non-Russian oil starting December 1. The decision impacts a long-term deal between Reliance and Rosneft for the supply of crude oil.