Reliance Navigates Sanctions: Adapting Oil Strategies Amidst Russian Tensions
Reliance Industries Ltd, a major Indian purchaser of Russian oil, will adhere to Western sanctions while preserving relationships with existing suppliers. Despite the sanctions, Reliance aims to maintain stability in its refinery operations. The company has expressed confidence in its diversified crude sourcing strategy.
Reliance Industries Ltd, India's leading Russian oil purchaser, has confirmed its commitment to Western sanctions against Russia, whilst maintaining its alliances with current oil suppliers.
Despite the latest wave of sanctions targeting Russia's key oil producers by the U.S., EU, and UK, Reliance has asserted its ability to navigate these restrictions through its established supplier relationships.
In a statement, Reliance underscored its strategic approach to crude sourcing, ensuring ongoing stability and reliability of its refining operations amid the geopolitical tension.
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