Reliance Industries Ltd.

Reliance Industries (RIL) is reportedly planning to stop oil import from Iran, since the new US sanctions is compelling buyers to avoid oil purchases from Tehran. This move came after US President Donald Trump discarded 2015 nuclear agreement this month and ordered the re-imposition of US sanctions on Tehran.

Some sanctions may take effect after a 90-day wind-down period ending on August 06 and the rest, mainly on the petroleum sector, after a 180-day wind-down period ending on November 04.

RIL is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.