India Looks For Russian Oil Alternatives, Reliance Turns To Middle East

India-West News Desk

MUMBAI – Reliance Industries, India’s largest private refiner, has sharply increased its crude oil purchases from the Middle East as global sanctions tighten around Russian energy exports and Western political pressure mounts. The company has reportedly bought at least 2.5 million barrels of crude in recent weeks from Iraq’s Basrah Medium and Qatar’s Al-Shaheen and Qatar Land grades—significantly more than usual—as it seeks alternatives to Russian oil.

The shift follows remarks by President Donald Trump earlier this month claiming that India had agreed to reduce its imports of Russian crude. Trump said Prime Minister Narendra Modi assured him that India would “stop buying Russian crude within a short period of time.” At that time, while denying any phone call between the two leaders that spoke to this quote, India later responded that the country’s import strategy “is guided entirely by the need to safeguard Indian consumers in a volatile energy scenario.”

With growing U.S. and European Union pressure, India appears to be adjusting its sourcing strategy.

In a statement Reliance has said it would comply with new EU guidelines restricting refined product imports linked to Russian crude. “We have noted the recent restrictions announced by the EU, UK, and the U.S. on crude oil imports from Russia and export of refined products to Europe,” a company statement said. “Reliance will comply with the EU’s guidelines and, as always, with any guidance from the Indian government.”

Reliance, which operates the world’s largest refining complex at Jamnagar on India’s west coast, has been one of the biggest importers of discounted Russian crude since Western sanctions began. The company said it would diversify crude sources and adjust refinery operations to ensure compliance with sanctions while maintaining stability in domestic and export supply chains.

According to Reuters, the company has already secured additional consignments from the U.S. and the Middle East, expected to arrive at Jamnagar between December and January, as it aligns operations with evolving international sanctions. (with IANS inputs)