India's Reliance secures US one-month waiver for Rosneft oil
India’s Reliance Industries Ltd. will continue receiving oil shipments from Rosneft after securing a one-month concession from the United States, which had imposed sanctions on the Russian energy company, according to two sources familiar with the matter, News.Az reports, citing Reuters.
This special permission has not been previously reported.
In October, the US sanctioned Rosneft and Lukoil, giving companies until November 21 to wind down transactions with the two firms. Reliance, which operates the world’s largest refining complex at 1.4 million barrels per day, has a long-term agreement to purchase 500,000 barrels per day of Russian oil from Rosneft.
Separately, the European Union has announced that starting January 21, it will not accept fuel from refineries that received or processed Russian oil within 60 days of the bill-of-lading date.
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