Reliance Industries has addressed the recent import restrictions imposed by the European Union, United Kingdom, and the United States on crude oil imports from Russia and export of refined products to Europe. The company is currently assessing the implications and compliance requirements. Reliance will adhere to EU guidelines and Indian government directives, ensuring India’s energy security and maintaining its commitment to regulatory compliance.
Response to Import Restrictions
Reliance Industries has acknowledged the recently announced restrictions by the European Union, United Kingdom, and the United States concerning crude oil imports from Russia and the export of refined products to Europe. The company is actively evaluating the implications of these new regulations.
Commitment to Compliance
Reliance Industries emphasizes its dedication to adhering to the guidelines set forth by the EU regarding the import of refined products into Europe. The company also affirms that it will fully comply with any guidance provided by the Indian Government in this matter. This commitment aligns with Reliance’s broader objective of ensuring India’s energy security.
Maintaining Operations and Supply
Reliance Industries reiterates its commitment to maintaining its long-standing record of adherence to sanctions and regulatory frameworks. The company is adapting its refinery operations to meet compliance requirements. Reliance is confident that its diversified crude sourcing strategy will enable it to maintain stability and reliability in its refinery operations for meeting domestic and export requirements, including those in Europe.
Source: BSE
