Miscellaneous

Reliance increases Middle Eastern crude purchases amid U.S. scrutiny of Russian oil imports.

Reliance Industries Ltd. has recently increased its procurement of Middle Eastern crude oils, including Iraq’s Basrah Medium, as U.S. scrutiny over India’s imports of Russian oil intensifies. This shift in purchasing patterns may reflect U.S. pressure on India to limit reliance on Russian crude amidst geopolitical tensions surrounding the Ukraine conflict. Despite U.S. claims that India agreed to halt its Russian oil purchases, New Delhi has not officially confirmed this. The situation is further complicated by an impending European Union ban on Russian refined products, set to take effect in January 2026, which could affect Reliance’s exports to Europe. This development highlights the delicate balance India must maintain in its energy strategy while navigating international diplomatic pressures.

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