Reliance Adapts to New EU Sanctions Amid Russia-Ukraine Tensions

In response to the latest sanctions imposed by the European Union, United Kingdom, and the United States on crude oil imports from Russia, Reliance Industries has stated that it is evaluating the compliance requirements and will adhere to the EU's guidelines for importing refined products into Europe. The company emphasized its unwavering commitment to India's energy security.

A spokesperson for the conglomerate reassured that Reliance will follow any directives from the Indian Government concerning the import and export conditions. The move aligns with their longstanding dedication to obeying international sanctions and adjusting refinery operations to keep in step with new market and regulatory demands.

The EU has introduced a new sanctions package targeting Russian banks and oil companies, which aims to curb funding for Russia's military efforts in Ukraine. Ukrainian President Volodymyr Zelenskyy announced ongoing financial support from the EU, highlighting commitments up to 2027, with a focus on strengthening energy and security cooperation.