Why has Mukesh Ambani's Reliance share fallen today? RIL stock slips nearly 5% after...

Reliance share news: Shares of Mukesh Ambani's Reliance Industries (RIL) tanked nearly 5 per cent on Tuesday amid the ongoing US-Venezuela conflict. The fall in shares comes after the Ambani company denied media reports that three vessels laden with Russian oil are on their way to its Jamnagar refinery. RIL has called the report 'blatantly untrue'. Reliance stated that its Jamnagar refinery has not received any Russian oil cargo in the past three weeks, nor does it expect any Russian crude oil deliveries in January.

In a post on social media platform X, it wrote, "Reliance Industries’s Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past three weeks approx. and is not expecting any Russian crude oil deliveries in January."

Reliance Market Cap

The market capitalisation of Reliance stood at Rs 20.42 lakh crore as of Tuesday, January 6. The share of RIL closed at Rs 1,508.90 with a fall of 4.39 per cent on the National Stock Exchange. 

On November 20, 2025, Reliance had said it had halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with European Union sanctions. Prior to that, Reliance was India's largest buyer of Russian oil, which it processes and turns into fuel, such as petrol and diesel, at its giant oil refining complex at Jamnagar.

US warns India on oil import from Russia

US President Donald Trump on Sunday warned that the US could raise tariffs on India if New Delhi fails to curb purchases of Russian oil. India became the second-largest buyer of discounted Russian seaborne crude after the Ukraine war began in 2022, drawing criticism from western nations that have imposed sanctions on Russia's energy sector

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