Indian refiner Reliance rejects Iran oil cargoes as waiver deadline looms

Reliance Industries rejected two Iranian oil cargoes after they failed to meet compliance requirements, highlighting tighter scrutiny on sanctioned crude flows. The development comes just days before a U.S. waiver expires that has allowed Iranian oil exports under sanctions relief, raising near-term supply and compliance risk for importers and refiners.

Analysis

Reliance Industries rejected two Iranian oil cargoes after they failed to meet compliance requirements, highlighting tighter scrutiny on sanctioned crude flows. The development comes just days before a U.S. waiver expires that has allowed Iranian oil exports under sanctions relief, raising near-term supply and compliance risk for importers and refiners.