India's richest man, Mukesh Ambani-led Reliance Industries, said it will stop importing Russian crude into its export-only Jamnagar refinery, effective Thursday. From Dec. 1, all exports will come solely from non-Russian sources.
The timing is striking. Trump’s sanctions on Russian oil giants Rosneft and Lukoil formally take effect on Friday, suggesting that Reliance’s pivot could be a nod to the U.S. political pressure.
