Reliance Industries Ltd (RIL), India’s largest private refiner and the biggest buyer of Russian crude, says on Thursday that it is recalibrating its imports of Russian oil to stay fully compliant with the government of India’s (GOI) guidelines, following a new wave of sanctions imposed by the US and the European Union (EU) on Moscow’s top energy companies. The move comes after the US and its allies announced sweeping restrictions targeting Rosneft and Lukoil, Russia’s two largest oil producers, in an escalation of measures aimed at curbing revenue that fuels Moscow’s war in Ukraine. The US action, described by treasury secretary Scott Bessent as one of the 'largest sanctions ever' against the Russian federation, was followed by the EU’s 19th package of punitive steps, which also incl

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