Did Mukesh Ambani-Led Reliance Industries Limited Buy Iranian Oil? Firm Fact Checks ‘Baseless’ Claims
Reliance Industries Limited (RIL) has refuted recent media claims suggesting that the company purchased crude oil of Iranian origin. The clarification comes amid heightened scrutiny of global oil sourcing after reports indicated that RIL allegedly bought 5 million barrels of Iranian crude shortly after the US temporarily eased sanctions on Iranian oil.
Mumbai, March 26: Reliance Industries Limited (RIL) has refuted recent media claims suggesting that the company purchased crude oil of Iranian origin. The company described the reports as “baseless” and misleading, emphasising that no such transaction has taken place.
The clarification comes amid heightened scrutiny of global oil sourcing after reports indicated that RIL allegedly bought 5 million barrels of Iranian crude shortly after the US temporarily eased sanctions on Iranian oil. India Energy Lockdown 2026 Fake News: Fact Check and FAQ.
RIL Refutes Media Claims of Purchasing 5 Million Barrels of Iranian Oil
In its official statement, RIL said: “Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin. These reports are baseless, leading to misleading and incorrect claims.”
The company also urged media outlets to verify facts before publication to avoid spreading misinformation, highlighting the sensitivity around crude oil sourcing in the current geopolitical climate. US Asked India To Provide Military Support To Attack Iran? MEA Fact Check Debunks Fake Claim.
The controversy follows a move by the US Treasury Department, which issued a short-term authorisation allowing the sale of Iranian crude already stranded at sea. The license, effective from March 20 to April 19, is intended to stabilise energy markets while maintaining pressure on Tehran.
Treasury Secretary Scott Bessent stated that the measure could bring approximately 140 million barrels of oil to global markets, easing supply pressures caused by ongoing conflicts and disruptions. The authorisation applies only to oil already loaded on vessels and does not permit new exports from Iran.
Much of the sanctioned Iranian oil remains offshore or rerouted through indirect channels. According to Bessent, some of this oil has been held by China, and the temporary US measure aims to release stranded supply to stabilise global markets.
Fact check
Reliance Industries purchased crude oil of Iranian origin.
The claim is baseless and fake.
(The above story first appeared on LatestLY on Mar 26, 2026 06:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).