Reliance Industries company stated that it does not expect deliveries of Russian oil in January. This decision could lead to a sharp reduction in Russian oil imports into India this month to the lowest level in years, according to Reuters.
"The Reliance Industries refinery in Jamnagar has not received any shipments of Russian oil for the past three weeks and does not expect deliveries of Russian oil in January," the company said in a statement.
According to sources, Russian oil imports into India are likely to drop to less than 1 million barrels per day.
According to sources and analytics company Kpler, the tightening of U.S. and EU sanctions has led to a reduction in Russian oil deliveries to India, which fell to a three-year low in December—around 1.2 million barrels per day. This is approximately 40% lower than the June peak of 2 million barrels per day.
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