Reliance Industries, Nayara Energy Face Uncertainty as US Sanctions Deadline Nears for Russian Oil Shipments

Overview

Millions of barrels of Russian crude oil, originating from sanctioned suppliers Rosneft PJSC and Lukoil PJSC, are en route to India. A US sanctions wind-down period ends this Friday, potentially disrupting deliveries to major refineries like Reliance Industries Ltd.'s Jamnagar and Nayara Energy Ltd.'s Vadinar port. This situation heightens scrutiny on India's energy purchases and their geopolitical implications.