India’s top refiner denies Bloomberg report of Russian oil purchase

The news outlet reported last week that Reliance may have resumed crude imports despite US sanctions

India’s top refiner has denied a Bloomberg report that said it might have resumed purchases of Russian oil despite US sanctions.

The media outlet reported last week that three vessels laden with 2.2 million barrels of Russian crude “are indicating Reliance Industries Ltd.’s plant on India’s west coast as their next destination, after the refiner restarted some purchases for domestic production.”

Reliance said in a statement on Monday that the report based on vessel tracking data from Kpler was “blatantly untrue.”

It added, “Reliance Industries’s Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past three weeks approx. and is not expecting any Russian crude oil deliveries in January.”

Statement by Reliance Industries Limited:

A news report in Bloomberg claiming “three vessels laden with Russian Oil are heading for Reliance Industries Limited’s Jamnagar refinery” is blatantly untrue.

Reliance Industries’s Jamnagar refinery has not received any cargo of…

— Reliance Industries Limited (@RIL_Updates) January 5, 2026

The US government imposed sanctions on Russian state-owned oil giants Rosneft and Lukoil in October of last year, saying the measures were intended to increase pressure on Russia’s energy sector due to the Ukraine conflict.

The sanctions gave global companies, including Indian refiners, a November 21 deadline to wind down transactions with the two majors.

The restrictions also applied to 34 subsidiaries of Lukoil and Rosneft located in Russia.

In 2024, Reliance and Rosneft signed a long-term deal for the supply of 500,000 barrels per day.

Russia has been India’s top oil supplier since 2022, providing 36% of the Asian nation’s imports.

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In August, US President Donald Trump announced a 25% tariff on India as a penalty for buying Russian oil, claiming the country’s purchases were helping Russia prolong the Ukraine conflict.

Moscow insists that imposing sanctions and tariffs on its partners infringes on their sovereign rights.

New Delhi has dismissed criticism of its Russian oil imports, maintaining that its energy policy is driven by its national interests, though it is also expanding trade with the US.

India’s oil imports from Russia were expected to remain steady in December despite US sanctions on Moscow’s top two producers, Reuters reported.