India's Reliance Industries Officially Shuts the Door on Russian Crude ...Middle East

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…

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