India’s largest private refiner Reliance Industries Ltd (RIL) has resumed and continues to import crude oil from Russia’s state-controlled giant Rosneft after receiving a one-month concession from the United States. The US had in October 2025 announced sanctions on Russian oil so as to cut the country’s oil revenue.
In a statement on October 22, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced these sanctions are a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine. “Now is the time to stop the killing and for an immediate ceasefire,” said Secretary of the Treasury Scott Bessent.
Now, after securing a one-month waiver from the US, Indian oil major RIL is learnt to have resumed purchases of discounted Russian crude, sourcing barrels from non-sanctioned suppliers and routing them to its refinery in Gujarat. The development comes amid tightening US and European Union sanctions.
US and EU sanctions on Russian refiners explained
In October 2025, Washington imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil refiners, while allowing a wind-down period for existing contracts until November 21, Reuters reported. The European Union took a step further, announcing that from January 21, 2026, it will bar imports of fuels refined from crude that had received or processed Russian oil within 60 days of the bill-of-lading date.
Reliance’s long-term deal with Rosneft
Reliance operates a 1.4 million barrels-per-day (bpd) refining complex and has a long-term agreement with Rosneft to purchase 500,000 bpd of Russian crude. According to Kpler data cited by Reuters, Reliance has received nearly 15 cargoes of Russian oil since November 22, 2025, despite the formal expiry of the US wind-down window.
“These are pre-existing transactions which are being wound down in a sanctions-compliant manner,” Reuters quoted Reliance as saying.
Reliance, which owns and operates the world’s biggest refinery complex in Jamnagar, Gujarat, was granted an additional month to receive vessels it had contracted before October 22, the report added.
How Reliance is navigating sanctions compliance
Reliance stated that the final cargo under the Rosneft contract was loaded on November 12, and that any Russian crude arriving after November 20 would be processed at its 660,000 bpd domestic refinery. This strategy allows Reliance to continue fuel exports to the EU from its 704,000 bpd export-oriented refinery, without breaching the bloc’s upcoming restrictions.
The company is reportedly scheduled to receive one additional Russian oil cargo each in December 2025 and January 2026, according to Kpler data.
India’s growing role in Russian oil trade
India, alongside China, has emerged as one of Russia’s largest oil importers, becoming the world’s biggest buyer of seaborne Russian crude after Moscow’s invasion of Ukraine in 2022. However, New Delhi has faced sustained criticism from the US and European allies, who argue that Russia’s oil revenues help sustain the war effort.
Industry estimates suggest that India’s Russian crude imports in December 2025 may fall to between 1.2 million and 1.5 million bpd, down from 1.77 million bpd in November 2025, indicating a potential recalibration as sanctions pressure intensifies.