Reliance Quietly Restarts Russian Oil Imports With Jamnagar Cargoes
Reliance resumes limited purchases of discounted Russian Urals crude for Jamnagar refinery amid US scrutiny.
Reliance Industries has resumed limited purchases of Russian crude oil after a brief pause triggered by heightened scrutiny from the United States and other Western regulators. According to a Bloomberg report, three tankers carrying nearly 2.2 million barrels of Russia’s Urals crude are currently en route to the company’s Jamnagar refinery complex in Gujarat. The crude is expected to be primarily used for producing fuels for the domestic market.
This development marks a cautious re-entry rather than a full-scale return to Russian oil sourcing. Earlier, Reliance had slowed or halted such purchases as regulatory attention intensified around Russian energy trade, particularly involving private refiners, shipping insurers, and payment mechanisms that could draw international compliance concerns.
Urals crude remains attractive for Indian refiners due to its significant price discount compared to other global benchmarks. For Reliance, which operates the world’s largest refining complex, access to competitively priced crude is essential to maintain high utilisation rates and protect refining margins amid volatile global energy markets.
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However, the relatively modest size of the current shipments suggests a measured approach. Industry analysts note that the volume is small compared to Reliance’s overall refining capacity, indicating that the company is testing the waters rather than committing to a major shift in sourcing strategy.
The move also reflects India’s broader energy balancing act—securing affordable crude supplies while navigating complex geopolitical dynamics. While state-run refiners have continued steady purchases of Russian oil, private players like Reliance have exercised greater caution due to their exposure to global financial systems and overseas markets.
Going forward, analysts expect Reliance’s engagement with Russian crude to remain selective and opportunistic. The Jamnagar-bound cargoes highlight the company’s willingness to re-engage under favorable pricing and compliance conditions, while continuing to diversify its crude basket and closely monitor regulatory and geopolitical developments.
