Billionaire Mukesh Ambani's Reliance Industries Ltd today, October 24, issued a statement after fresh US and EU sanctions on Russian Oil. In an official statement, the company's spokesperson said, "We have noted the recent restrictions announced by the European Union, United Kingdom and the United States on crude oil imports from Russia and export of refined products to Europe. Reliance is currently assessing the implications, including the new compliance requirements." The spokesperson further said that they will comply with the European Union's guidelines on the import of refined products into Europe. "Whenever there is any guidance from the Indian Government in this respect, as always, we will be complying fully. Reliance has consistently aligned itself with the objectives of ensuring India’s energy security," the statement added. The Mukesh Ambani-led company also said that they remain fully committed to maintaining their longstanding and impeccable record of adherence to applicable sanctions and regulatory frameworks and will be adapting the refinery operations to meet the compliance requirements. The development comes following sanctions on Moscow-linked firms. India Scaled Back on Russian Oil Purchases at Request of US President Donald Trump, Claims White House.

Reliance Issues Statement After Fresh US and EU Sanctions on Crude Oil Imports from Russia

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