Reliance exported €724 million in fuel to the U.S

Reliance Industries, headed by billionaire Mukesh Ambani, has exported fuel valued at €724 million (approximately ₹6,850 crore) to the United States, made from Russian crude oil. This information comes from a report by the Centre for Research on Energy and Clean Air (CREA). The report states that from January 2024 to the end of January 2025, the US imported €2.8 billion worth of refined oil from India and Turkey. Among this, around €1.3 billion was made from Russian oil. Reliance's refineries in Jamnagar, Gujarat, accounted for about €2 billion of the total fuel imports, with an estimated €724 million coming from Russian crude. Another refinery in Vadinar, owned by Nayara Energy, exported €184 million worth of fuel to the US. Of this, €124 million was refined from Russian crude. Additionally, the Mangalore Refinery and Petrochemicals Limited exported €42 million worth of fuel, with €22 million estimated to be from Russian oil. The report also noted that Turkey's refineries exported a total of €616 million in fuel to the US, with a significant portion derived from Russian crude. According to CREA, Russia gained about ₹750 million in tax revenue from these imports. The fuel imports included gasoline worth €294 million, which could potentially fill many cars in Florida. The report emphasizes that while there are no current restrictions on buying Russian crude oil, the G7 nations and others have implemented price caps to limit Russia's oil revenue. This strategy was established in response to Russia's invasion of Ukraine, aiming to decrease revenue while preventing a spike in global oil prices.