New Delhi: Reliance Industries has denied reports that it purchased crude oil of Iranian origin, calling the claims baseless and misleading.
The clarification came after a report by Reuters earlier this week suggested that the company had bought about 5 million barrels of oil linked to Iran under a temporary waiver from the United States.
In its response, Reliance said it strictly follows all international regulations and sanctions. The company also urged media outlets to verify facts before publishing such sensitive information.
The earlier report had raised attention because it suggested that India may have resumed limited imports of Iranian oil for the first time since 2019, when US sanctions forced a halt to such trade. According to that report, the purchase was possible due to a short term waiver allowing delivery of oil already in transit.
The development comes at a time when global oil markets are under pressure due to rising tensions in the Middle East. Concerns over supply disruptions, especially around key shipping routes, have pushed countries to look for alternative sources of crude.
India, one of the worldās largest oil importers, has been increasing its dependence on discounted crude from Russia in recent years. However, tight global supply and rising demand have made the market more competitive.
Experts say even speculation about Iranian oil deals can impact prices and diplomatic relations, as sanctions and compliance rules remain complex. Payments, shipping insurance and tracking of oil origin continue to pose challenges for companies.
With Reliance firmly denying the report, uncertainty remains over whether the earlier claims were incorrect or based on indirect trade flows. The situation highlights the lack of transparency in global oil trading during times of crisis.
For now, the company has made its position clear, but the wider energy market remains tense as geopolitical risks continue to grow.