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New Delhi: While India continues to project itself as a responsible global power, its actions on the ground suggest a different reality, one marked by profiteering and duplicity.<\/p>\n
According to Kashmir Media Service, nowhere is India\u2019s profiteering and duplicity clearer than in its dealings with sanctioned Russian crude, where Indian Prime Minister Narendra Modi\u2019s close associate Mukesh Ambani\u2019s Reliance Industries has emerged as the single biggest beneficiary, a report says.<\/p>\n
Billionaire industrialist, Mukesh Ambani is facing increasing scrutiny over his company\u2019s leading role in importing discounted Russian crude oil despite sweeping Western sanctions on Moscow.<\/p>\n
The report citing a ship tracking data and official sources said India\u2019s Russian oil purchases, averaging 1.5 million barrels per day, have been cornered primarily by two private players: Reliance Industries and Rosneft-controlled Nayara Energy.<\/p>\n
Instead of strengthening India\u2019s state-run refiners or lowering domestic energy costs, the report states that this arrangement has turned into a windfall for a handful of oligarchs.<\/p>\n
Every second barrel of crude imported into India now comes from Russia. By June 2025, Russian oil\u2019s share in India\u2019s market hit a record 45%, with Reliance and Nayara together dominating the downstream trade, accounting for 81% of India\u2019s fuel exports. At 914,000 barrels per day, Reliance alone makes up 71% of India\u2019s total exports, with its Jamnagar refinery exporting 67% of production\u2014not to meet India\u2019s needs, but to chase profits in Europe and Asia.<\/p>\n
In a remarkable twist, as the West imposes sanctions on Russia, Indian private refiners act as intermediaries, rebranding cheap Russian crude into high-priced fuel for Western markets. This practice not only allows Moscow to sustain oil revenues despite sanctions but also enables corporate elites in India to profit enormously, all while the average Indian consumer sees little to no benefit.<\/p>\n
Critics argue this reflects a deeper systemic issue within India\u2019s political economy. The government\u2019s support for private players like Reliance and Nayara\u2014while sidelining public-sector refiners\u2014has effectively created what some are calling a state-sponsored oligarchic racket.<\/p>\n
\u201cFor Mukesh Ambani, it is billions in profit,\u201d the report states. For India, it is reputational damage and growing dependence on Russian crude.\u201d<\/p>\n
Although India continues to claim neutrality in the Russia-Ukraine conflict, its role in bypassing sanctions through corporate channels paints a different picture. Observers argue that New Delhi has exploited loopholes in global sanctions to enrich a select group of business elites, undermining both international norms and the interests of its own citizens.<\/p>\n
At the center of this controversy is Reliance Industries, increasingly seen as the face of India\u2019s duplicity on the global stage, buoyed by Modi\u2019s patronage and insulated from domestic accountability.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: While India continues to project itself as a responsible global power, its actions on the ground suggest a different reality, one marked by profiteering and duplicity. According to Kashmir Media Service, nowhere is India\u2019s profiteering and duplicity clearer than in its dealings with sanctioned Russian crude, where Indian Prime Minister Narendra Modi\u2019s close …<\/p>\n","protected":false},"author":3,"featured_media":182792,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-182779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/kmsnews.org\/kms\/assests\/2025\/09\/russian-deals-put-reliance-oil-core-in-focus-at-its-annual-general-meeting.png","_links":{"self":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts\/182779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/comments?post=182779"}],"version-history":[{"count":0,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/posts\/182779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/media\/182792"}],"wp:attachment":[{"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/media?parent=182779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/categories?post=182779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kmsnews.org\/kms\/wp-json\/wp\/v2\/tags?post=182779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}