Ukrainian MP calls for sanctions against Indian billionaire Mukesh Ambani
Ukrainian Member of Parliament Mykhailo Sokolov from the Batkivshchyna party has called on the Security service of Ukraine to investigate Indian businessman Mukesh Ambani and his company Reliance Industries. He urged that, if confirmed, sanctions be imposed, alleging their involvement in schemes to help Russia circumvent international restrictions and maintain oil trade. Sokolov announced his appeal in a Facebook post.
According to Sokolov, before Russia’s full-scale invasion of Ukraine, Russia's oil share of India’s imports was less than one percent. In 2024, it reached 1.95 million barrels per day, accounting for 42% of India’s oil imports.
Reliance Industries signed a ten-year contract with Rosneft for oil supplies worth $12–13 billion annually, Sokolov noted. Under the agreement, Russia ships up to 500,000 barrels of oil daily, which represents half of the Russian company’s seaborne exports.
As the MP explained, the mechanism for channeling revenues into the Russian budget works as follows: Russian oil is purchased through intermediaries in the UAE and Hong Kong at a discount, processed in India, and then sold to Western markets as "Indian" oil products. The profits remain in the accounts of traders affiliated with the Kremlin, who subsequently purchase sanctioned weapons and technologies.
"Ukraine must act consistently against anyone who helps the aggressor", – Sokolov said.
He called on the Security service of Ukraine to verify the information and submit the issue of sanctions for consideration by the Council of National Security and Defence.
"What is particularly cynical is that Mr. Ambani is still not included in any sanctions lists related to the war against Ukraine, while freely sponsoring the war and the killing of Ukrainians. After receiving this information, I was compelled to appeal to the Security Service with a parliamentary request, asking to verify the facts, provide a legal assessment of the actions of Mukesh Ambani and Reliance Industries, and, if confirmed, to submit the question of sanctions against Ambani and his company for consideration by the NSDC", – the statement by the MP said.