Billionaire Mukesh Ambani's Reliance Industries Ltd has signed a deal to import crude oil worth USD 12-13 billion a year from Russia's Rosneft for 10 years, sources said. Russian state oil firm Rosneft will supply up to 500,

India, the world’s third-largest oil importer and consumer, has become the leading buyer of seaborne Russian crude after Western nations stopped purchasing it in response to Russia’s invasion of Ukraine in 2022.

Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.

Russia's Rosneft has agreed to supply 500,000 barrels per day of crude to India's Reliance for 10 years in a deal worth approximately $13 billion annually. This agreement, which accounts for 0.5% of global supply,

Rosneft has agreed to supply nearly 5 lakh barrels per day of crude oil to Reliance Industries, Reuters reported citing three sources familiar with the matter.