Russia’s Top Indian Oil Client Reliance Says Will Abide By Western Sanctions

(Reuters) – Reliance Industries Ltd, the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement.

Reliance, which is controlled by billionaire Mukesh Ambani and operates the world’s biggest refining complex at Jamnagar in western Gujarat state, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian oil major Rosneft.

The refiner also buys Russian oil from intermediaries.

U.S. sanctions target Lukoil and Rosneft, Russia’s two biggest oil producers.

Reporting by Nidhi Verma; Editing by Joe Bavier

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