Mukesh Ambani’s Reliance grabs mideast oil as Russian flows face US scrutiny

Indian’s Reliance Industries Ltd. bought Middle Eastern crudes last week and may place more orders, in a sign that Western pressure against Russian flows may be starting to impact its procurement patterns.

The privately-held refiner bought at least 2.5 million barrels, including Iraq’s Basrah Medium, as well as Al-Shaheen and Qatar Land, said traders familiar with the matter, who asked not to be named as they’re not authorized to speak to the media. While Reliance’s typical diet does include crude from the region, the recent spurt of buying was more active than usual, the traders said.