Last year, Reliance Industries Ltd signed a deal with Russian major Rosneft to import nearly 500,000 barrels per day.
Last year, Reliance Industries Ltd signed a deal with Russian major Rosneft to import nearly 500,000 barrels per day.
By Fiona Kelliher and News Agencies
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India’s top importer of Russian oil, the conglomerate Reliance Industries Ltd, says it will abide by Western sanctions, ending several days of speculation about how the company will manage new measures targeting Russia’s two largest oil companies.
Reliance cutting back on Russian crude import may impact the firm, but could smooth the way for a U.S.-India trade deal.
The White House has welcomed the move by Reliance Industries, India's largest importer of Russian oil.
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