Reliance Industries refuses to buy Russian oil

Reliance Industries refuses to buy Russian oil


The company of Indian origin, Reliance Industries, will not buy oil from the Russian Federation, which was loaded into Sovcomflot tankers. This refusal is motivated by the recent tightening of sanctions restrictions by the United States of America, Vechernye Vesty reports with reference to Reuters.

The export situation for the Russian Federation continues to complicate. The oil market continues to be closed for the Russian product. First of all, this is related to sanctions and the search for courts to sell surplus oil.

Also, the companies of the Russian Federation are already experiencing difficulties with collecting payments for the withdrawal of oil from the country. Difficulties are caused by banking restrictions.

The United States of America introduced large-scale sanctions against the Russian Federation after it launched a full-scale offensive against Ukraine.

Russia lost $40 billion due to oil sanctions.

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