Russian Oil Banned! Reliance Industries Loses ₹66,000 Crores; Shares Nosedive By 3%

For the past few weeks, US President Donald Trump was incessantly forbidding the purchase and sale of Russian oil. Despite record revenue and profit, Reliance Industries shares fell by more than 3 percent due to the EU's decision on Monday. Due to which the market cap of Reliance Industries suffered a loss of Rs 66 thousand crores.

The EU has banned Russian oil coming from any third country. India will now be able to refine Russian oil and sell it in European countries. The effect of this decision is reflected in the performance of Reliance Industries. It is the source of India's largest refined crude oil. Recently, the company's shares have declined.

The EU has banned Russian oil imports. No European country is permitted to import Russian oil. India will be impacted. India was a supplier of refined petroleum products worth $15 billion annually to Europe.

According to the report, India exported petroleum products worth US$19.2 billion to the European Union in the financial year 2024, but fell by 27.1 per cent to US$15 billion in 2024-25. India imported crude oil worth US$50.3 billion from Russia in the financial year 2025. The share of Russian oil in India's crude oil basket is more than 44 per cent.

The impact of this decision is reflected in the performance of the country's largest Reliance Industries. In fact, Reliance Industries is the largest importer of Russian oil. It was refining and exporting to many countries in Europe. In December 2024, RIL signed a 10-year deal with Rosneft to import about 500,000 barrels per day of Russian crude oil - worth $ 13 billion annually - making Russian oil the basis of its refining strategy.

By October 2024, RIL was importing an average of 405,000 barrels per day from Russia - more than a third of its total crude oil. These purchases were made at a discount of $ 3-4 per barrel against Middle East grades, which increased refining margins and boosted exports to Europe, especially diesel exports. Reliance will be affected after the EU's decision.

The EU's decision caused Reliance Industries shares to decline on Monday. According to BSE data, Reliance Industries shares closed down 3.29 per cent at Rs 1428.20. During the trading session, Reliance Industries shares fell to the day's low of Rs 1423.05. This morning, the company's stock opened with a slight decline at Rs 1474.95.

Whereas a day earlier, the company's stock was seen at Rs 1476.85. According to experts, Reliance Industries shares may see fluctuations. On July 19, 2024, the company's stock reached the day's high of Rs 1,589.

Due to the fall in the shares of Reliance Industries, the market cap of the company also witnessed a decline. After the stock market closed on Friday, Reliance Industries' market cap was Rs 19,98,543.22 crore. After the stock market closed on Monday, the company's market cap slipped to Rs 19,32,707.74 crore. This means that the market cap of the company suffered a loss of Rs 65,835.48 crore in a day.

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