Reliance Industries Limited (RIL) on Thursday denied purchasing crude oil of Iranian origin, as reported in the media.
In an official statement, the company categorically rejected the claims, calling them “baseless” and “misleading.” RIL emphasized that the reports have led to incorrect conclusions and do not reflect the company’s operations or sourcing practices.
“We categorically reject recent media reports that the company has purchased crude oil of Iranian origin,” the statement said. “These reports are baseless, leading to misleading and incorrect claims.”
The company also urged media organizations to exercise greater diligence, stressing the importance of verifying facts before publication.
The statement came after a media article claimed that Reliance Industries, operator of the world’s largest refining complex, had purchased 5 million barrels of Iranian crude days after the U.S. temporarily eased sanctions on the oil, citing three sources familiar with the matter. Iranian oil, which in recent years has mainly been bought by Chinese independent refiners, is often rebranded as originating from another country.
After temporarily easing sanctions on Russian crude, the US issued a 30-day waiver allowing the purchase of Iranian oil already at sea. According to the US, the waiver applies to oil loaded on any vessel, including tankers under sanctions, on or before March 20 and discharged by April 19.
Iran was among India’s top suppliers before US sanctions on its crude, after which India halted imports. This would mark India’s first purchase of Iranian oil since May 2019, months after Washington reimposed sanctions on Tehran.