Reliance Industries Receives One Month US Concession to Buy Rosneft Oil

As per Reuters report, Reliance Industries Ltd has been granted a 1-month concession by the US to continue purchasing oil from Russia's Rosneft.  

This special permission allows Reliance to maintain its long-term agreement with Rosneft amidst US sanctions imposed in October. 

US Concession for Reliance Industries 

The US imposed sanctions on Rosneft and Lukoil in October, requiring companies to cease transactions by November 21. However, Reliance has received a 1-month concession, enabling it to continue receiving oil cargoes from Rosneft.  

This concession has allowed Reliance to uphold its agreement to purchase 5,00,000 barrels per day for its refining complex. 

Reliance has stated that these transactions are pre-existing and are being wound down in compliance with the sanctions. The US Treasury has not commented on this concession. 

Impact on Oil Imports and EU Regulations 

Since November 22, Reliance has received approximately 15 cargoes of Russian oil, as per Kpler data. The company has indicated that it loaded its final cargo under the Rosneft deal on November 12.  

Russian oil arriving after November 20 will be processed at Reliance's India-focused plant, allowing continued fuel sales to the EU. 

The EU has announced that from January 21, it will not accept fuel from refineries that processed Russian oil within 60 days of the bill-of-lading date. Reliance is scheduled to receive additional cargoes in December and January from trader RusExport, as per Kpler data. 

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India's Position in Russian Oil Imports 

India has become the largest buyer of seaborne Russian crude following Moscow's invasion of Ukraine. However, it faces pressure from Washington to reduce these imports.  

In December, India's Russian oil imports are expected to average between 12,00,000 and 15,00,000 barrels per day, a decrease from 17,70,000 barrels per day in November. 

Reliance Industries Share Price Performance  

As of December 24, 2025, at 3:28 PM, Reliance Industries share price on NSE was trading at ₹1,560.50 down by 0.65% from the previous closing price. 

Conclusion 

Reliance Industries' ability to continue purchasing oil from Rosneft under a US concession highlights the complexities of international trade amidst geopolitical tensions. The company's strategic management of its oil imports ensures compliance with both US and EU regulations while maintaining its refining operations. 

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