NEW DELHI — The global oil market is undergoing a significant re-alignment after India\’s largest private refiner, Reliance Industries, made the monumental decision to halt imports of Russian crude oil for its export-oriented operations at the Jamnagar refining complex—the largest single-site refining complex in the world.
The shift, which took effect largely on Thursday, November 20, was executed ahead of critical deadlines for Western sanctions, particularly the new US sanctions on Russian majors Rosneft and Lukoil and the EU ban on Russian-derived fuels entering its market from third countries beginning in January 2026.
The move by Reliance carries immense weight, as the company alone accounts for approximately 50% of the Russian oil flows that have surged into India since the start of the war in 2022. During this period, India’s Russian oil imports ballooned from 2.5% to over 35% of its total crude basket.
The immediate impact is clear in Reliance\’s latest sourcing data, according to a Carnegie Endowment report:
The transition involves a logistical separation at the massive Jamnagar complex: Russian oil, if still received from previously committed liftings, will now be diverted exclusively to the refinery unit catering to the Domestic Tariff Area (DTA), while the export-only unit will source exclusively non-Russian crude.
Reliance\’s action confirms a broader trend of resistance softening across the Indian refining sector. Several reports indicate that other Indian oil refiners, including state-controlled entities, have been lowering their overall Russian oil purchases over the past two months and are reportedly skipping Russian crude imports for December supply contracts.
This decisive move is expected to alleviate severe political pressure from the US, which had imposed heavy 50% tariffs on Indian goods, citing the country\’s purchases of Russian oil as funding Moscow\’s war efforts.
Trade analysts are now urging the US to remove the punitive tariffs. The Global Trade and Research Initiative (GTRI) said that maintaining the additional 25% tariff penalty would risk slowing down delicate negotiations for a broader trade deal between India and the US.
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