Impact of Reliance exposure to US? RIL cuts Russian crude buys; prepares to stop imports from sanctioned firms

Mukesh Ambani-led Reliance Industries (RIL) has cut back on its crude oil imports from the Russia and in the coming months is expected to stop buying from entities sanctioned by the Donald Trump administration. RIL is the largest buyer of Russian crude in India.

This strategic move aims to ensure compliance with Western sanctions whilst maintaining access to markets in the United States and Europe, sources told ET.