Brief by Shorts91 Newsdesk / 05:30am on 22 Aug 2025,Friday India Global
Reliance Industries, led by Mukesh Ambani, has dramatically increased its share of Russian crude at the Jamnagar refinery—from just 3% in 2021 to about 50% in 2025. The first seven months of 2025 saw imports of 18.3 million tonnes valued at $8.7 billion . Despite the $60 price cap on Russian oil intended to curb Kremlin revenues, weak enforcement and the use of a “shadow fleet” have diluted its impact . Since February 2023, Jamnagar has exported $85.9 billion worth of refined products, with an estimated 42% of those exports ($36 billion) heading to countries sanctioning Russia, including €17 billion to the EU and $6.3 billion to the U.S. (of which $2.3 billion derived from Russian crude). (PC: AP)
