Reliance remains compliant with sanctions; Russian oil adds just 2.1% to EBITDA

Reliance Industries Ltd (RIL), India’s biggest buyer of Russian oil, is expected to remain compliant with international sanctions even as Europe tightens measures on Moscow’s crude exports, analysts said, reported PTI. They estimate that Russian oil contributes only a small fraction — about 2.1 per cent — to the conglomerate’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA).

Reliance runs the world’s largest single-location refining complex at Jamnagar, Gujarat, with more than half its capacity dedicated to exports. The 35.2 million tonnes-a-year export-only unit supplies fuels such as diesel to the European Union and other markets.