In what is being seen as a direct impact of Donald Trump’s sanctions on two major Russian oil firms, Reliance Industries Ltd (RIL) has purchased crude from the Middle East and the US. The supply of Russian crude to major Indian refineries is likely to decline considerably following sanctions on Rosneft and Lukoil PJSC, with Nayara Energy Ltd, backed by Rosneft, being the sole exception. Additionally, several Chinese firms have temporarily suspended their purchases whilst evaluating the implications of US sanctions. According to a Bloomberg report, RIL, which has been the largest importer of Russian oil by volume in this year, has bought millions of barrels of crude from the US and Middle East after Russia’s Rosneft and Lukoil were hit by Trump sanctions. The company has pu

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