Reliance Industries denies sidestepping US sanctions
Agencies | Updated: Mar 23, 2019, 11:27 ISTHighlights
- RIL said: It has not only 'complied with US sanctions laws, but also has done its best to adjust its dealings with Venezuela on a voluntary basis to reflect the ongoing changes in US policy'
- Reliance will continue its transactions in full compliance of prevailing sanctions, the company added
(File photo)NEW DELHI: Reliance Industries (RIL) on Friday said it has never sidestepped US sanctions against Venezuela and has completely stopped supplying fuel to the Latin American nation. Since the imposition of US sanctions, Reliance has been in continuous communication with the US Department of State regarding its activities in Venezuela, the company said in a statement.
“Reliance has been transparent with US authorities and also has provided detailed feedback to the US Department of State as they were formulating and adjusting US policy regarding product shipments to Venezuela,” it said.
“Reliance not only has complied with US sanctions laws, but also has done its best to adjust its dealings with Venezuela on a voluntary basis to reflect the ongoing changes in US policy.” The company said it has “stopped shipments of diluent naphtha to Venezuela, and has reduced its purchases of Venezuelan crude oil to well below its contracted levels.”
Reliance will continue its transactions in full compliance of prevailing sanctions, it added.
“Reliance has been transparent with US authorities and also has provided detailed feedback to the US Department of State as they were formulating and adjusting US policy regarding product shipments to Venezuela,” it said.
“Reliance not only has complied with US sanctions laws, but also has done its best to adjust its dealings with Venezuela on a voluntary basis to reflect the ongoing changes in US policy.” The company said it has “stopped shipments of diluent naphtha to Venezuela, and has reduced its purchases of Venezuelan crude oil to well below its contracted levels.”
Reliance will continue its transactions in full compliance of prevailing sanctions, it added.
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