Reliance issued a major statement on reports of buying oil from Iran, saying the claim is completely baseless

Reliance Industries Limited on Thursday dismissed reports of oil purchases from Iran as false. Responding to some media reports regarding the oil purchase, Reliance Industries Limited stated that the company completely denies these reports. 

The company categorically stated, "Recent media reports alleging that the company purchased crude oil from Iran are completely false. These reports are baseless and misinform the public. We appeal to the media to verify the facts before publishing any news."

Reliance Industries Limited's statement comes after a Reuters report claimed the company had purchased 5 million barrels of crude oil from the National Iranian Oil Company. 

According to the report, this oil was purchased at a price higher than Brent futures. It also stated that the US had temporarily relaxed sanctions, allowing the transaction to take place on Iranian oil held at sea.

According to the report, this discount was applicable to shipments that were loaded by March 20 and were to be delivered by April 19. However, Reliance has not confirmed any such deal and has vehemently denied all these claims.

Reliance Industries