Reliance Industries Ltd. has placed orders for non-sanctioned Russian crude for February and March delivery, a person familiar with the matter said. The move signals India’s largest refiner is re-engaging with Moscow’s energy supply after a pause triggered by tighter Western sanctions. The timing aligns with a wider industry recalibration of risk.

India’s crude imports from Russia surged after 2022, providing a critical market for Moscow while offering New Delhi discounted barrels. Reliance’s decision to resume purchases suggests confidence in navigating sanctions compliance and securing insurance for shipments. For Moscow, a reliable buyer like Reliance stabilizes revenue amid ongoing geopolitical pressure.

The resumption could pressure global crude benchmarks, as additional Indian demand absorbs Russian supply that might otherwise flood other markets. Investors will watch for similar moves from other refiners, which could reshape trade flows and influence price differentials between Brent and Dubai crude.