Russian crude at Reliance export refinery halted

New Delhi: Reliance Industries Ltd has said it has halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with European Union sanctions. Reliance is India's largest buyer of Russian oil, which it processes and turns into fuel, such as petrol and diesel, at its giant oil refining complex at Jamnagar. The complex is made up of two refineries - one SEZ unit from which fuels are exported to the European Union, the US and other markets, and an older unit that caters to the domestic market. The European Union - a big market for Reliance - has imposed wide-ranging sanctions targeting Russia's energy revenues, including measures that restrict the import and sale of fuels produced from Russian crude oil.

To comply with these, Reliance has stopped processing Russian crude oil at its only-for-exports (SEZ) refinery. "We have stopped importing Russian crude oil into our SEZ refinery with effect from November 20," a company spokesperson said in a statement on Thursday. As is the case with any large industrial factory, the refinery must have past raw material (crude oil) inventories, which it is currently processing and turning into fuels. Once the old inventory runs out, newer products will only be made from non-Russian oil. "From December 1, all product exports from the SEZ refinery will be obtained from non-Russian crude oil," the firm said. "The transition has been completed ahead of schedule to ensure full compliance with product-import restrictions coming into force in January 2026."