Reliance to halt oil imports under Rosneft deal, sources say

Privately-owned Reliance Industries will stop importing oil under its long-term deal to buy nearly 500,000 barrels per day of crude from Russian oil major Rosneft, after the oil producer was sanctioned by the United States, two sources with direct knowledge of the matter said on Thursday.

Reliance, the top Indian buyer of Russian crude, also buys Russian oil from the spot market for its refining complex, the world's biggest, with a capacity to process 1.4 million bpd of oil.