petroleum exports
Reliance Industries Halts Russian Oil Processing at Export Refinery to Comply with EU and US Sanctions
Nov 21, 2025 01:25 pm CST
Reliance Industries Ltd has ceased processing Russian crude oil at its export-dedicated refinery in Jamnagar to comply with EU sanctions. As India's largest buyer of Russian oil, the company has announced that from December 1, all product exports from its SEZ refinery will be derived from non-Russian crude sources, completing the transition ahead of schedule to meet compliance requirements for restrictions effective January 2026.
US Treasury Sanctions Over 50 Entities Including Indian Nationals for Iranian Oil Trade Violations
Oct 10, 2025 09:56 am CST
The US Treasury Department has imposed sanctions on more than 50 individuals, entities, and vessels involved in Iranian oil and LPG trading, including three Indian nationals. These sanctions target networks enabling billions in Iranian petroleum exports that fund terrorist activities. Treasury Secretary Scott Bessent stated the measures aim to dismantle Iran's energy export operations under the Trump Administration.