US sanctions on Russia's Rosneft and Lukoil may impact Reliance Industries’ direct oil imports. State-owned refiners are likely to continue buying through intermediary traders. EU restrictions on fuel exports will further affect Indian firms, prompting recalibration from January 2026
Rosneft owns 49.13 per cent stake in Nayara Energy Ltd, formerly Essar Oil Ltd. EU sanctions means Nayara cannot export fuel such as petrol and diesel to European countries
