The company was responding to reports suggesting that shipments of Russian oil were approaching the Jamnagar complex. Reliance said its refinery has not received any Russian crude cargo for nearly three weeks and is not expecting any deliveries in January.
Reliance clarified that it had already committed in November 2025 to halting the use of Russian crude at its export-oriented unit, citing rising geopolitical and regulatory risks. These include the threat of higher US tariffs linked to purchases of Russian oil.
The company also pointed to inaccuracies in satellite-based vessel tracking data, stating that automated signals and intermediary-linked trades do not reflect its actual procurement plans. It said it is distancing itself from potential secondary sanctions and moving towards a more diversified crude sourcing strategy.
The issue remains sensitive as Russian oil imports have drawn scrutiny from the US. In August 2025, US President Donald Trump imposed 25% penalty tariffs on Indian imports over New Delhi’s purchases of Russian oil.
Reliance, once India’s largest buyer of Russian crude, said it is now sourcing non-Russian oil for exports to ensure sanctions compliance and continued access to key global markets.
Reliance Industries is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
The company‘s consolidated net profit jumped 9.54% to Rs 18,165 crore on 9.94% increase in revenue from operations to Rs 2,58,898 crore in Q2 FY26 over Q2 FY25.
Shares of Reliance Industries are currently down 4.49% at Rs 1506.60 on the BSE.