Reliance renews ties with Iran after 6 years

After a gap of 6 years Reliance Industries has re-established its ties with Iran by buying crude oil from the Persian Gulf Power. The operator of world’s largest refining complex, RI is now looking to increase its purchases to 5 mn tones a year. Post international sanctions clamped on Iran, the company had stopped exporting petroleum products to it in 2009 and ceased crude oil purchase in 2010.

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