Mukesh Ambani’s Reliance is under U.S. pressure for importing discounted Russian oil
The post Mukesh Ambani’s Reliance is under U.S. pressure for importing discounted Russian oil appeared on BitcoinEthereumNews.com.
Mukesh Ambani just got shoved into the middle of a geopolitical mud fight, and we’re pretty sure it’s not one he signed up for. The world’s richest Indian businessman, who normally prefers to control narratives from inside his Reliance boardroom, is now being dragged into the messy standoff between Washington and New Delhi over one thing: Russian oil. And also, Putin. Trump’s decision to double tariffs on Indian goods directly targets Reliance’s massive, discounted oil imports from Russia, which have allegedly saved the company hundreds of millions of dollars this year. But here’s the thing: Russian oil isn’t sanctioned, so technically no laws are being broken. Still, the optics are brutal. Buying from Rosneft under a long-term supply deal now looks like a geopolitical gamble, especially since that deal is tied to Reliance’s cutting-edge Jamnagar refining complex. Washington fumes, Delhi deflects, Reliance ducks Now let’s be real, Reliance doesn’t want any part of this. Their refining ops are world-class, and the Jamnagar site can process everything from sweet light crude to the gunk scraped off a pirate ship’s bilge. But the lifeblood of that business is cheap oil. And Russia’s been handing out discounts like it’s a Diwali sale. A 10-year supply pact with Rosneft went live earlier this year, locking in rates well below market. According to Bloomberg’s math here, Reliance saved at least $571 million in the first half of 2025 alone. That’s before you even count shipping or insurance. Yet that savings now has a cost. The U.S. wants India to stop buying Russian barrels and switch to American supply. But ditching Rosneft means breaching a deal, ceding market advantage, and (more importantly) undercutting the Indian government’s position. India never joined Western sanctions. It’s been loud and clear that it will keep buying where the prices work.…
Filed under: News - @ August 29, 2025 5:28 am