TODAY'S TEN: Trump Triumphs: RIL, PSUs set to suspend Russia imports
By Pradeep Damodaran, Pragadish Kirubakaran, Meena R Prashant and Neeraja Gopalakrishnan in Media News on Friday, 24th October 2025 at 3:47pm
Image source: Perplexity AI, ChatGPT and Copilot; Edited by Dinesh Raj M
Reliance Industries and state-run refiners are preparing to suspend Russian crude imports after the US Wednesday sanctioned Rosneft and Lukoil, the largest exporters of those barrels. Importers can receive contracted shipments till Nov 21. Unlike previous sanctions, when Russian oil could be traded within the $60 per barrel price cap, this time the curbs are directed at the companies, making their barrel tainted after the cut-off date.
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Reliance, the single-largest Indian consumer of Russian oil, will be the biggest loser as it buys most of those barrels directly from Rosneft under a term contract. Russian crude makes up about half of the feed at its 35-milliontonne complex at Jamnagar, wr...
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