Reliance Industries seeks Indian government approval to import Iranian crude oil on four vessels as a US sanctions waiver expires April 19. The world's largest single-site refinery operator is navigating complex US restrictions and Indian laws to ensure compliance. Indian refiners have increased Russian oil purchases significantly, with imports reaching 1.9 million barrels daily last month, up from 1.1 million in February. Supply constraints from Strait of Hormuz disruptions are forcing refiners to seek alternative sources. India has not imported Iranian crude since 2019, though the oil ministry recently confirmed purchases of Iranian oil and liquefied petroleum gas. Reliance previously secured US general licenses for Venezuelan crude imports and accounts for nearly a third of India's Russian crude imports, which have declined due to EU restrictions on fuels made from Russian crude.
