Why has Mukesh Ambani-led Reliance Industries come under Donald Trump’s lens? Details here
Reliance Industries Ltd and Nayara Energy exported 60 billion dollars of petroleum products in 2024-25. In addition, the oil worth $ 15 billion went to the European Union in just six months of the year.
Mukesh Ambani, President, Reliance Industries Ltd. (File picture)
Reliance Industries (RIL) belonging to the Muteh Ambani was attacked from the USA. Treasury Secretary Scott Bessant said that some super -rich families in India were emphasized by buying Russian crude oil and selling finished products in the world market, but Rıl and Nayara are believed to attack Energy. “They’re just making snow. They’re selling again. I call this Indian Arbitrage – buy cheap Russian oil and sell it as a product.” “They made a decline of $ 16 billion – some of the richest families in India.”
How much did the Reliance industries purchase Russian oil?
According to KPLER data, Reliance Industries and Nayara Energy exported 60 billion dollars of oil products worth $ 60 billion in 2024-25. In addition, the oil worth $ 15 billion went to the European Union in just six months of the year. KPLER is a data and analysis platform that provides intelligence tools for trade. Reliance Industries, led by Mukesh Ambani, signed an agreement worth $ 12-13 billion for 10 years to import Russia’s 500,000 barrels a day with Russia’s Rosneft in December 2024.
How did India increase Russian raw imports?
Nayara Energy, which belongs to almost half of Rosneft, acquired approximately 72% of crude oil in 2022-25 compared to 27% in 2022. According to KPLER, India acquired only 68,000 barrels a day from Russia before the Russian-Ukraine War. India acquired 2.15 million barrels a day in May 2023 before they settled with 1.78 million barrels a day in July 2025. Currently, 36% of India’s oil needs come from Russia compared to a share of 0.2% before the conflict.
Although the Indian Oil Corporation (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL), the refineries operated by the Indian state also buy Russian crude oil, but their purchases largely meet domestic demand. However, after special refiners refined fuels, they exported them back to Europe and other markets.
Why was China not punished?
After applying a 25% base tariff to Indian goods, Donald Trump brought a 25% additional and punishing tariff for the purchase of cheap Russian crude oil. However, despite being the largest Russian raw receiver, China has escaped additional tariffs so far. Explaining this, Scott Bessan said that Beijing’s imports were treated differently because it was already a large Russian oil receiver before the occupation. He argued that India significantly increased purchases after 2022 and some rich families made profit from this crisis.
