Reliance, PSU refineries look to suspend Russian oil imports on US curbs
NEW DELHI: Reliance Industries and state-run refiners are looking at suspending Russian crude imports after the US on Wednesday sanctioned Rosneft and Lukoil, the largest exporters of those barrels.
Reliance, the single-largest Indian consumer of Russian oil, will be the biggest loser as it buys most of those barrels directly from Rosneft under a term contract. Russian crude makes up about half of the feed at the company’s 35-million-tonne complex.
