Trade with this company brought billions of US dollars to Russia.
The largest buyer of Russian oil — Reliance Industries from India — announced a complete cessation of supplies from the Russian Federation.
The company stopped importing crude oil from Russia to its refinery in Jamnagar as of November 20. Starting December 1, the complex will only receive non-Russian sourced crude.
In 2021, the Indian organization purchased Russian oil worth $85 million, and in 2023 — at its peak — worth $11.7 billion. The current decision is linked to new sanctions from the United States and the European Union against Moscow.
The administration of American President Donald Trump welcomed this move. Washington noted that it is aimed at achieving significant progress in trade negotiations between the two countries.
