More Stories

Informist, Friday, Oct. 24, 2025

 

MUMBAI – Oil-to-chemicals conglomerate Reliance Industries Ltd. will fully comply with the new restrictions announced by the European Union, the United Kingdom and the US on import of crude oil from Russia and exports of refined products to Europe, the company spokesperson said in a statement late Friday evening.

 

"The Company remains fully committed to maintaining its longstanding and impeccable record of adherence to applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements," the spokesperson said. "We will comply with the EU's guidelines on the import of refined products into Europe. Whenever there is any guidance from the Indian Government in this respect, as always, we will be complying fully. Reliance has consistently aligned itself with the objectives of ensuring India's energy security."

 

The European Union has banned imports of some Russian refined products, including diesel, gasoline and certain fuel oils. The European Union companies are also prohibited from providing insurance, reinsurance and shipping services for their transport. Certain reports in media suggest that RIL had exported nearly 22 million tonnes of oil products in the first half of 2025-26 (Apr-Mar). Of these, nearly 28% were to Europe. The restrictions from Europe come in the wake of several sanctions imposed by US President Donald Trump against Russia for continuing its war against Ukraine.

 

The company said that it had also begun assessing the implications of these measures and new compliance requirements, adding that its diversified crude sourcing strategy for its refinery will continue to meet the domestic and export requirements, including for Europe.

 

The statement comes in the wake of several news reports on RIL looking to cut imports of Russian oil for use in its refineries in Jamnagar as the US imposed sanctions on Russia's two largest oil companies – Rosneft and Lukoil on Oct. 22. The sanctions are set to take effect from Nov. 21, providing a 30-day grace period for businesses and entities to wind down any existing arrangement with the two restricted Russian oil firms. India is reported to have imported about 1.7 million barrels per day of Russian oil between January and September, with private refiners RIL and Nayara Energy buying most of the barrels to keep running their refineries. 

 

"As is customary in the industry, supply contracts evolve to reflect changing market and regulatory conditions. Reliance will address these conditions while maintaining the relationships with its suppliers," the company spokesperson added. 

 

For the quarter ended September, the Indian conglomerate reported a consolidated net profit of INR 181.65 billion on revenue of INR 2.59 trillion. Friday, RIL's shares closed trading 0.2% higher at INR 1,451.60 on the National Stock Exchange. End

 

Reported by Sunil Raghu

Edited by Deepshikha Bhardwaj

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.