Indian billionaire Mukesh Ambani's Reliance Industries plans to scale back imports of Russian crude oil following fresh US sanctions on Moscow-linked firms, PTI reported, quoting sources. However, state-run refiners may continue purchases through intermediary traders for now, industry officials said.

Reliance buys discounted Russian oil

The Ambani-led Reliance is India's biggest buyer of discounted Russian oil, and operates the world's largest single-site oil refining complex at Jamnagar in Gujarat. Reliance purchased about half of the 1.7-1.8 million barrels per day of discounted Russian crude shipped to India. The company refines the crude into petrol, diesel and aviation turbine fuel (ATF), a large share of which is exported to markets such as Europe and the United States at marke

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