India's Reliance Industries Officially Shuts the Door on Russian Crude
Market Intelligence Analysis
AI-PoweredReliance Industries has stopped importing Russian crude into its Jamnagar refining complex, a significant move in response to Washington's sanctions on Rosneft and Lukoil, indicating a shift in India's oil import strategy.
Market impact analysis based on bearish sentiment with 65% confidence.
Article Context
India’s Reliance Industries has officially stopped importing Russian crude into its giant Jamnagar refining complex as of November 20—a sharp and early pivot that signals just how seriously Indian refiners are taking Washington’s latest sanctions squeeze on Rosneft and Lukoil. Reliance had the most to lose. For two years, it was India’s single largest buyer of Russian oil, backed by a long-term deal for nearly 500,000 bpd with Rosneft. Now, that relationship is effectively mothballed, at least for Jamnagar, as the company…
Analysis and insights provided by AnalystMarkets AI.