Reliance Seeks Russian Oil After US Gives India Temporary Waiver

Reliance Industries Ltd. is seeking to buy Russian oil after the US granted India a license to temporarily acquire cargoes, according to a person familiar with the matter.

The refining giant plans to process the barrels at its facility that produces fuels for the domestic Indian market, said the person, who asked not to be identified discussing sensitive matters. The company’s export-focused plant will continue running on non-Russian grades, the person added.