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Reliance Industries denies buying Iranian oil, calls media reports ‘baseless’Reliance Industries has denied reports of buying Iranian crude, calling them baseless, after media reports claimed a 5 million barrel purchase following a temporary US sanctions waiver.By Sheersh Kapoor  March 26, 2026, 6:37:09 PM IST (Published)1 Min ReadReliance Industries Ltd has denied reports that it purchased crude oil of Iranian origin, calling such claims “baseless” and misleading.

In a clarification issued on Thursday, the company said, “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. We urge the concerned media outlets to verify facts before publication.”

The statement follows a Reuters report which claimed that the company had bought 5 million barrels of Iranian crude from the National Iranian Oil Company, citing sources familiar with the matter. The report had also indicated that the crude was priced at a premium to Brent futures, following a temporary sanctions waiver by the United States.

According to the report, the waiver applied to Iranian oil already at sea, allowing transactions for shipments loaded on or before March 20 and discharged by April 19.

Reliance, which operates the world’s largest refining complex, has not confirmed any such transaction and has firmly denied the claims.

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Shares of Reliance Industries Ltd ended at ₹1,412.55, up 0.08% on Wednesday.Continue ReadingNote To ReadersDisclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.TagsIranIranian oilRelianceReliance Industries RILshare market today