economy
January 24, 2026
India’s top refiner to resume Russian oil purchases
Reliance Industries is reportedly set to make purchases from non-sanctioned Russian entities in February and March
TL;DR
- Reliance Industries is set to resume buying Russian oil in February and March.
- The company had a brief pause in purchases.
- The US has pressured India to stop buying Russian oil.
- Reliance received Russian crude in December after a US concession.
- The EU has imposed sanctions on Russian oil.
- India became a key market for Russian crude after the Ukraine conflict escalated in 2022.
- Russia has been India's top oil supplier since then.
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