Reliance denies buying Iranian crude, calls reports ‘baseless’

New Delhi: Reliance Industries Limited (RIL) on Thursday refuted reports that it has purchased Iranian crude, calling these reports "baseless".

Reports earlier claimed that RIL had purchased 5 million barrels of Iranian crude after the US administration temporarily removed sanctions on Iranian oil at sea.

According to the report, RIL bought the oil from the National Iranian Oil Co.

"Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin. These reports are baseless, leading to misleading and incorrect claims," the company said in a statement, urging the media outlets concerned to verify facts before publication.

Last week, the US issued a short-term authorisation allowing the sale of Iranian oil already stranded at sea, a move the Donald Trump administration says will quickly boost global supply while maintaining pressure on Tehran, according to the Treasury Department and media reports.

Treasury Secretary Scott Bessent said the step is designed to stabilise energy markets amid ongoing conflict and supply disruptions.