India’s Reliance gets one-month US concession to buy Rosneft oil.
India’s Reliance gets one-month US
concession to buy Rosneft oil.
International News Desk
According to global times News Agency Europe,India’s Reliance Industries Ltd. continues to receive oil cargoes supplied by Rosneft after obtaining a one-month concession from Washington, which had imposed sanctions on the Russian producer, two sources familiar with the matter said, The Global times Europe media.The special permission for Reliance has not been reported previously.In October, the US imposed sanctions on Rosneft and Lukoil, giving companies until November 21 to wind down transactions with the two energy firms.Reliance has a long-term deal with Rosneft to buy 500,000 barrels per day of Russian oil for its 1.4 million bpd refining complex, the world’s largest.Separately, the EU has said that from January 21, it will not take fuel produced at refineries that received or processed Russian oil 60 days prior to the bill-of-lading date.
