Reliance Industries Limited (RIL) has denied a Bloomberg report that claimed three tankers carrying Russian crude oil were on their way to its Jamnagar refinery in Gujarat. The company called the report “blatantly untrue” and expressed concern that the article hurt its reputation.
What Reliance has said
In an official statement on X, RIL explained that its Jamnagar refinery has not received any Russian crude in the past three weeks and does not expect any deliveries in January 2026. The company pointed out that vessel tracking signals show potential destinations but do not confirm purchases or deliveries.
What did the news report claim?
Bloomberg reported on January 2 that three vessels loaded with Russian crude, totaling about 2.2 million barrels, were heading to Jamnagar. This report was based on ship tracking data from Kpler, which monitors movements and predicts destinations. The article suggested that Reliance might have resumed Russian crude imports after reducing deliveries due to US sanctions.
In August 2025, US President Donald Trump imposed an extra 25 % tariff on India for importing Russian crude, bringing the total US tariffs to 50 %. Indian refiners, including Reliance, have been changing their procurement strategies in response. They are looking to balance the halt of Russian crude with supplies from West Asia, Africa, and other areas to keep their refineries running.
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