India’s largest private refiner, Reliance Industries, has taken a decisive step in the shifting geopolitical landscape of global energy markets by halting imports of Russian crude ahead of a key US sanctions deadline. The move, aimed at preserving access to Western markets while avoiding secondary sanctions risks, highlights the increasingly delicate balancing act New Delhi must perform as the US and Europe tighten the screws on Moscow’s energy revenues.

Reliance-which operates the world’s single-largest refining complex at Jamnagar on India’s west coast-confirmed on November 20 that it has received its final shipment of Russian crude oil. The cargo, loaded on November 12, was part of pre-agreed liftings that were “already in place” before Washington announced sweeping new sanctions targeting Russian energy producers Rosneft and Lukoil on October 22. Under the rules, companies were granted until November 21 to wind down all dealings tied to the two Russian giants.

This clarification was necessary because the Jamnagar facility is bifurcated into two distinct operational zones: an export-oriented refinery, which sends high-value petroleum products to markets that typically include Europe, and a Domestic Tariff Area (DTA), which supplies India’s domestic consumption. Reliance emphasized that crude purchased before the sanctions announcement would still be processed at the export-oriented unit, whereas any cargoes arriving on or after November 20 would be routed through the DTA. While subtle, this operational shift allows the company to adhere to the letter and spirit of US compliance while protecting key business streams.

Bloomberg reported that by making this adjustment, Reliance ensures that it can maintain........

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