India’s Top Energy Giant Halts Russian Oil Purchases as Sanctions Tighten

India’s largest refiner, Reliance Industries, has completely stopped importing Russian crude to its vast Jamnagar refining hub, moving early to comply with incoming US, UK, and EU sanctions targeting Moscow’s oil sector.

The Gaze reports this, referring to Reuters.

The shift marks a major break for a company that had a long-term deal with Russia’s Rosneft to buy nearly 500,000 barrels of crude per day. 

Despite that agreement, Reliance has repeatedly emphasized that it would adhere to Western sanctions imposed in response to Russia’s full-scale war against Ukraine.

Washington instructed global firms to terminate dealings with Rosneft and Lukoil by November 21. The EU is introducing an even stricter measure: starting January 21, any fuel produced in refineries that have processed Russian crude within 60 days of loading will be banned from entering the bloc.

With Europe accounting for roughly 28% of Reliance’s total exports, securing access to the EU market played a decisive role in the company’s early transition.

Reliance said all export products will be refined solely from non-Russian crude beginning December 1. The company also noted that the phase-out was completed earlier than planned. Only previously approved Russian shipments, arranged before October 22 and already en route, are being honored. 

The final cargo under those exemptions was loaded on November 12. Any vessels arriving from November 20 onward will be processed exclusively within India’s Domestic Tariff Area, ensuring full compliance.

Analysts note that with major buyers stepping back, Russian oil is piling up at sea and selling at deep discounts, further constricting the Kremlin’s war finances.

As The Gaze informed earlier, in a recent interview with CBS, U.S. Treasury Secretary Scott Bessent said that new U.S. sanctions against leading Russian oil companies are already hitting Russia's economy, despite the Kremlin's claims to the contrary.

In turn, U.S. President Donald Trump has announced that Washington is prepared to ease trade tariffs on India following New Delhi’s sharp reduction in imports of Russian crude oil.