Mukesh Ambani, as another master’s degree from Reliance Industries, links to Russia by selling crude oil to…
Despite Western sanctions against Russia following the invasion of Ukraine in February 2022, there are no direct restrictions to improve Russian crude oil and fuels obtained from exports.
A report from billionaire Mukesh Ambani’s Reliance Industries Ltd has estimated to receive an estimated €724 million (Rs 68,500 crore) from Russian crude oil to the U.S. fuel export (CREA) in a year.
Between January 2024 and January 2025, the United States imported 2.8 billion euros of refined oil from six refineries in India and Türkiye. Of these, fuel worth 1.3 billion euros is estimated to be extracted from Russian oil.
The Jamnagar refinery in Gujarat accounts for 2 billion euros of fuel exports in the United States. CREA estimates that 724 million euros are made from Russian crude oil. Similarly, Vadinar is home to Russia-backed Nayara Energy, exporting €184 million worth of fuel, with €124 million along with Russian crude oil.
Other contributions come from New Mangalore, where the Mangalore Refinery and Petrochemical Co., Ltd. (MRPL) exports fuel worth 42 million euros, estimated to be derived from Russian crude oil.
Meanwhile, Türkiye’s refineries exported 616 million euros worth of fuel to the United States, with an estimated 545 million euros extracted from Russian crude oil.
Despite Western sanctions against Russia following the invasion of Ukraine in February 2022, there are no direct restrictions to improve Russian crude oil and fuels obtained from exports. However, the G7, the EU and Australia imposed a $60-a-barrel price cap to limit Moscow’s revenue.
