After all Trump’s victory! India stop buying oil from Russia? Reliance gets approval for direct procurement from Venezuela

• Reliance will buy crude oil directly from Venezuela
• US approved
• India stop buying oil from Russia?

India’s Crude Oil Imports: Delhi : Reliance Industries Limited (RIL), the country’s largest private sector company, has achieved a major milestone. Mukesh Ambani (Mukesh Ambani) direct crude oil from Venezuela (Crude Oil) is issued a general license to purchase. The move could be a game-changer for Reliance’s Jamnagar refinery as it will provide direct access to cheaper crude oil and improve its overall refining margins.

Also read: Oil Imports: Donald Trump’s diplomacy is a success! India buys less oil from Russia

Reliance will deal directly

The approval was received at the end of January. Earlier, due to US sanctions, Reliance and other Indian refiners had to buy Venezuelan oil through traders (intermediaries). For example, this year Reliance bought 2 million barrels of oil through Vitol. With the new license, Reliance will now be able to directly buy oil from the extracting company. This will not only reduce commissions from intermediaries, but also stabilize the supply chain. Venezuelan President Nicolas Maduro (Nicolas Maduro) after the arrest, the United States of Venezuela (Venezuela) has eased restrictions on the energy industry, paving the way.

Exclusive opportunity for Jamnagar Refinery Reliance’s Jamnagar

The refinery is the largest single-site refining complex in the world. It is one of the most complex refineries in the world. Venezuela’s crude (especially from the Orinoco belt) is classified as ‘heavy’ and ‘extra heavy’, the Jamnagar refinery is specifically designed to process this sour and heavy crude.

Increasing margins: Due to production challenges, this heavy crude international

Available at a significant discount compared to the benchmark. Reliance can optimize its refining margins by converting cheap oil into higher value products like diesel, kerosene and LPG.

India stopped buying oil from Russia?

RIL’s decision to buy crude oil directly from Venezuela has raised a big question. Has India stopped buying oil from Russia? According to a Bloomberg report, India’s oil imports from Russia averaged 1.2 million barrels per day in January 2026. In 2024, this purchase was approximately 20 million barrels of oil per day. But this time Indian refineries have postponed all purchases this time. This decline is Donald Trump (Donald Trump)’s statement that India fully agrees to stop buying oil from Russia.

Disclaimer: This is an automated news feed of Navrastra newspaper. It is not edited by navarashtra.com staff.

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