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Reliance boosts Middle Eastern crude buys amid U.S. pressure on India to cut Russian oil imports.
Reliance Industries has increased purchases of Middle Eastern crude, acquiring at least 2.5 million barrels of grades from Iraq, Kuwait, and Qatar, according to traders. The shift follows growing U.S. pressure on India to reduce Russian oil imports, though India has not confirmed any agreement to do so. Reliance is seeking alternatives with refining characteristics similar to Russian crude, amid concerns over geopolitical risks and the upcoming EU ban on Russian-refined products. The company has not commented, and India’s overall import strategy remains unclear.
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