‘Will Comply With EU’s Guidelines’: Reliance ‘Assessing Implications’ Of US Sanctions On Russian Oil

Last Updated:October 24, 2025, 19:57 IST

Reliance said in a statement: “We will comply with the EU’s guidelines on the import of refined products into Europe.”

Reliance is currently assessing the implications, including the new compliance requirements, read the statement.

Reliance Industries Ltd (RIL), one of India’s largest importers of Russian crude oil, said on Friday that it was “closely assessing the implications" of the new restrictions imposed by the European Union (EU), the United Kingdom (UK), and the United States (US) on Russian crude and refined products.

US President Donald Trump has imposed tough sanctions on Russia’s two largest oil companies — Rosneft and Lukoil — over the Kremlin’s continued military campaign in Ukraine. The sanctions are among the most severe yet, effectively cutting off key Russian energy firms from Western financial markets. RIL currently has a long-term agreement to purchase about 500,000 barrels per day (bpd) of crude from Russian oil major Rosneft and also sources additional volumes through intermediaries.

“We have noted the recent restrictions announced by the European Union, United Kingdom and the United States on crude oil imports from Russia and export of refined products to Europe. Reliance is currently assessing the implications, including the new compliance requirements. We will comply with the EU’s guidelines on the import of refined products into Europe," Reliance, which operates the world’s largest refining complex at Jamnagar, said in a statement.

“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," it said.

The statement read: “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."

“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. Reliance is confident that its time-tested, diversified crude sourcing strategy will continue to ensure stability and reliability in its refinery operations for meeting the domestic and export requirements, including to Europe," it further said.

Trump said the sanctions were part of a broader strategy to compel Russia to agree to “an immediate ceasefire" in Ukraine. He also confirmed that he had cancelled a planned summit with Russian President Vladimir Putin amid a growing chill between the two nations.

Russia’s top economic envoy Kirill Dmitriev on Friday arrived in the United States for talks with the Donald Trump administration, CNN reported citing sources in the know.

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