Ambani’s Reliance Industries owns and runs the largest oil refining complex in the world, placed an order for over 15 million barrels of oil from Russia since Ukraine was invaded by the largest country in the world.
According to official sources, the largest Indian conglomerate purchased an average of 5 million barrels every month during the 2ndquarter. The company was contacted for a comment but their representatives have remained quiet about it.
Prior to the military invasion, Indian companies, which includes Reliance, generally strayed away from Russia oil due to the heavy tariffs and freight costs
But ever since the invasion, companies and countries all around the world have pulled their operations out of Russia and placed an embargo on the country. Countries have also cut trade ties with them. This has caused oil prices around the world to surge but at the same time has contracted the Russian economy drastically. This has forced the largest country in the world to sell their oil at lower prices even below the market value.