Reliance Industries Ltd has decided to stop gasoline supplies to Iran after fulfilling all contractual obligations, the Business Standard newspaper reported on Wednesday.
The decision came after eight U.S. congressmen wrote to the U.S. Export-Import Bank to suspend all financial assistance to Reliance until it agreed to halt sales to Iran, the newspaper said, without naming its sources.
The move will not impact Reliance’s business as sales to Iran were not substantial, the newspaper said.
“As a corporate policy and to maintain business confidentiality, we do not comment on specific transactions,” a Reliance spokesman told Reuters.
Reliance last month started up a new refinery in western India, almost doubling company output and creating the world’s biggest refining complex just as global oil demand slows.
January 7, 2009 ·
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