Indian private company Reliance has resumed buying Russian oil at a reduced price, Bloomberg reports citing sources.
It is claimed that Reliance buys oil at a reduced price from non-sanctioned suppliers and sends it to its refinery in Jamnagar.
Reliance stopped buying Russian fuel after the United States imposed sanctions on Rosneft and Lukoil in October. In addition to the 660,000 bpd Jamnagar refinery, which supplies the domestic market, Reliance operates a 700,000 bpd export-oriented facility there.
At the end of October, Reuters reported that Indian Oil Corp, an Indian oil refinery, had again started buying Russian oil, but now only from companies that were not under sanctions.