Indian Refiners Halt Russian Oil Purchases Amid Trade Pact Talks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Should l Buy RELI?
Source: Newsfilter
- Purchasing Strategy Shift: Indian refiners, including Indian Oil, Bharat Petroleum, and Reliance Industries, are avoiding Russian oil purchases for April, a move that could facilitate New Delhi's trade pact with Washington aimed at lowering tariffs and enhancing economic cooperation.
- Significant Import Decline: India's Russian oil imports are expected to drop below 1 million barrels per day by March, potentially falling to 500,000-600,000 barrels per day, compared to an average of 1.7 million barrels per day last year, indicating a strategic shift in procurement amid evolving international dynamics.
- Market Response: Despite becoming the top buyer of discounted Russian seaborne crude in 2022, Indian refiners are increasingly sourcing oil from Middle Eastern, African, and South American countries to reduce reliance on Russian imports due to Western sanctions.
- Policy Monitoring: President Trump has rescinded the 25% tariffs on Indian goods contingent on India's commitment to halt direct or indirect imports of Russian oil, reflecting the U.S. administration's close monitoring of India's energy procurement policies.
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Analyst Views on RELI
About RELI
Reliance Global Group Inc operates as a holding company with diversified interests in the insurance market, as well as other related sectors. It focuses on growing by pursuing acquisition strategies and focused on wholesale and retail insurance agencies. Its business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies with an entire suite of business development tools. Its business-to-consumer platform, 5minuteinsure.com (5MI), utilizes artificial intelligence and data mining to provide online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. It has added Ethereum to its financial holdings. It focuses on identifying specific risk to reward arbitrage opportunities and developing these on a national platform, and identifying and acquiring undervalued wholesale and retail insurance agencies with operations in growing or underserved segments. It owns Solana, the native token of the Solana blockchain.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Indian Refiners Halt Russian Oil Purchases Amid Trade Pact Talks
- Purchasing Strategy Shift: Indian refiners, including Indian Oil, Bharat Petroleum, and Reliance Industries, are avoiding Russian oil purchases for April, a move that could facilitate New Delhi's trade pact with Washington aimed at lowering tariffs and enhancing economic cooperation.
- Significant Import Decline: India's Russian oil imports are expected to drop below 1 million barrels per day by March, potentially falling to 500,000-600,000 barrels per day, compared to an average of 1.7 million barrels per day last year, indicating a strategic shift in procurement amid evolving international dynamics.
- Market Response: Despite becoming the top buyer of discounted Russian seaborne crude in 2022, Indian refiners are increasingly sourcing oil from Middle Eastern, African, and South American countries to reduce reliance on Russian imports due to Western sanctions.
- Policy Monitoring: President Trump has rescinded the 25% tariffs on Indian goods contingent on India's commitment to halt direct or indirect imports of Russian oil, reflecting the U.S. administration's close monitoring of India's energy procurement policies.
See More
Reliance Global Group to Acquire Controlling Interest in Enquantum Ltd.
- Acquisition Plan: Reliance Global Group has entered a non-binding term sheet with Enquantum to pursue a controlling interest through a structured investment process over the next 12 months, addressing the emerging threat of quantum computing to encryption security.
- Funding Arrangement: The company executed a secured promissory note on January 15, 2026, as an advance for initial funding, which must be repaid within 60 days if a definitive agreement is not reached, reflecting confidence in the transaction while maintaining structural protections.
- Market Outlook: The post-quantum cryptography market is projected to reach $2.84 billion by 2030, as new cybersecurity regulations come into effect, forcing organizations to upgrade their technology to mitigate risks posed by quantum computing.
- Technological Advantage: Enquantum focuses on developing NIST-compliant post-quantum cryptographic hardware cores designed to deliver higher speed and security, enabling organizations to transition to post-quantum security without compromising operational efficiency.
See More
Reliance Global Changes Ticker to EZRA, Focuses on Tech Acquisitions
- Ticker Change: Reliance Global is changing its NASDAQ ticker from 'RELI' to 'EZRA' effective January 26, aiming to better reflect its strategic evolution and potentially enhance market recognition and investor confidence.
- New Division Launch: The formation of EZRA International Group focuses on acquiring controlling stakes and accelerating the growth of breakthrough technology companies, emphasizing sectors like cybersecurity, artificial intelligence, and data analytics, indicating the company's commitment to the tech market.
- Acquisition Plan Initiated: Reliance Global plans to acquire a majority stake in Scentech, an AI diagnostics firm developing non-invasive breath-based disease detection technologies, marking its first acquisition under the new strategy and promising significant long-term growth potential.
- Clear Strategic Goals: By structuring the acquisition around clinical, regulatory, and operational milestones, Reliance Global demonstrates its intention to pursue high-impact, technology-driven opportunities, further solidifying its market position in the tech sector.
See More
Reliance Global Group (RELI) Changes Ticker to EZRA, Reflecting Strategic Shift
- Ticker Change: Reliance Global Group will change its ticker symbol to EZRA on January 26, aiming to better reflect the company's strategic evolution and enhance market recognition.
- New Division Formation: The establishment of EZRA International Group signifies the company's focus on acquiring controlling stakes, initially targeting sectors such as cybersecurity, artificial intelligence, and data analytics, indicating a strategic intent for diversification.
- Sector Focus: EZRA International will particularly emphasize FinTech, InsurTech, and MedTech and digital health, aiming to drive future growth potential through investments in these rapidly expanding industries.
- Acquisition Plans: Reliance Global intends to acquire a majority stake in Scentech, which will not only strengthen its market position but also provide new revenue streams, further advancing its strategic transformation.
See More
Reliance Acquires Majority Stake in Scentech, Expanding into Health-Tech Sector
- Acquisition Announcement: Reliance Global Group has announced the acquisition of a majority stake in Israeli diagnostics company Scentech, marking its first investment in the health-tech ecosystem, despite none of Scentech's products being commercially approved yet.
- Strategic Positioning: This acquisition will serve as the inaugural asset for Reliance's newly established technology investment arm, Ezra International Group, indicating the company's commitment to the health-tech sector and its potential for future growth.
- Market Reaction: Following the announcement, Reliance's stock fell by 4.93% to $0.58, reflecting market caution regarding the acquisition and potentially impacting the company's short-term stock performance.
- Future Outlook: CEO Ezra Beyman stated that through the acquisition of Scentech, Reliance aims to expand its influence in the health-tech field, which, if successfully developed and commercialized, could provide new growth opportunities for the company.
See More
India's Fuel Consumption Hits 21.75 Million Tons in December, Setting Record
- Significant Consumption Growth: India's fuel consumption reached 21.75 million tons in December, a 5.3% year-on-year increase, marking the highest monthly record since April 1998, which underscores the robust recovery of the domestic economy and solidifies India's position as the world's third-largest oil consumer.
- Gasoline Sales Rebound: December gasoline sales stood at 3.56 million tons, up 1.1% from November and 7.1% year-on-year, indicating a sustained recovery in consumer demand that could drive growth and investment in related sectors.
- Rising LPG Consumption: Liquefied petroleum gas consumption rose by 11.2% year-on-year to 3.08 million tons, reflecting an increasing demand for cleaner energy in households and industries, thereby promoting an optimized energy structure.
- Diesel Consumption Fluctuations: Although diesel consumption increased by 5% year-on-year to 8.46 million tons, it saw a month-on-month decline of 1.1%, highlighting the impact of seasonal demand variations that could affect future supply chain management and pricing strategies.
See More
Indian Refiners Halt Russian Oil Purchases Amid Trade Pact Talks
- Purchasing Strategy Shift: Indian refiners, including Indian Oil, Bharat Petroleum, and Reliance Industries, are avoiding Russian oil purchases for April, a move that could facilitate New Delhi's trade pact with Washington aimed at lowering tariffs and enhancing economic cooperation.
- Significant Import Decline: India's Russian oil imports are expected to drop below 1 million barrels per day by March, potentially falling to 500,000-600,000 barrels per day, compared to an average of 1.7 million barrels per day last year, indicating a strategic shift in procurement amid evolving international dynamics.
- Market Response: Despite becoming the top buyer of discounted Russian seaborne crude in 2022, Indian refiners are increasingly sourcing oil from Middle Eastern, African, and South American countries to reduce reliance on Russian imports due to Western sanctions.
- Policy Monitoring: President Trump has rescinded the 25% tariffs on Indian goods contingent on India's commitment to halt direct or indirect imports of Russian oil, reflecting the U.S. administration's close monitoring of India's energy procurement policies.
See More
Reliance Global Group to Acquire Controlling Interest in Enquantum Ltd.
- Acquisition Plan: Reliance Global Group has entered a non-binding term sheet with Enquantum to pursue a controlling interest through a structured investment process over the next 12 months, addressing the emerging threat of quantum computing to encryption security.
- Funding Arrangement: The company executed a secured promissory note on January 15, 2026, as an advance for initial funding, which must be repaid within 60 days if a definitive agreement is not reached, reflecting confidence in the transaction while maintaining structural protections.
- Market Outlook: The post-quantum cryptography market is projected to reach $2.84 billion by 2030, as new cybersecurity regulations come into effect, forcing organizations to upgrade their technology to mitigate risks posed by quantum computing.
- Technological Advantage: Enquantum focuses on developing NIST-compliant post-quantum cryptographic hardware cores designed to deliver higher speed and security, enabling organizations to transition to post-quantum security without compromising operational efficiency.
See More
Reliance Global Changes Ticker to EZRA, Focuses on Tech Acquisitions
- Ticker Change: Reliance Global is changing its NASDAQ ticker from 'RELI' to 'EZRA' effective January 26, aiming to better reflect its strategic evolution and potentially enhance market recognition and investor confidence.
- New Division Launch: The formation of EZRA International Group focuses on acquiring controlling stakes and accelerating the growth of breakthrough technology companies, emphasizing sectors like cybersecurity, artificial intelligence, and data analytics, indicating the company's commitment to the tech market.
- Acquisition Plan Initiated: Reliance Global plans to acquire a majority stake in Scentech, an AI diagnostics firm developing non-invasive breath-based disease detection technologies, marking its first acquisition under the new strategy and promising significant long-term growth potential.
- Clear Strategic Goals: By structuring the acquisition around clinical, regulatory, and operational milestones, Reliance Global demonstrates its intention to pursue high-impact, technology-driven opportunities, further solidifying its market position in the tech sector.
See More
Reliance Global Group (RELI) Changes Ticker to EZRA, Reflecting Strategic Shift
- Ticker Change: Reliance Global Group will change its ticker symbol to EZRA on January 26, aiming to better reflect the company's strategic evolution and enhance market recognition.
- New Division Formation: The establishment of EZRA International Group signifies the company's focus on acquiring controlling stakes, initially targeting sectors such as cybersecurity, artificial intelligence, and data analytics, indicating a strategic intent for diversification.
- Sector Focus: EZRA International will particularly emphasize FinTech, InsurTech, and MedTech and digital health, aiming to drive future growth potential through investments in these rapidly expanding industries.
- Acquisition Plans: Reliance Global intends to acquire a majority stake in Scentech, which will not only strengthen its market position but also provide new revenue streams, further advancing its strategic transformation.
See More
Reliance Acquires Majority Stake in Scentech, Expanding into Health-Tech Sector
- Acquisition Announcement: Reliance Global Group has announced the acquisition of a majority stake in Israeli diagnostics company Scentech, marking its first investment in the health-tech ecosystem, despite none of Scentech's products being commercially approved yet.
- Strategic Positioning: This acquisition will serve as the inaugural asset for Reliance's newly established technology investment arm, Ezra International Group, indicating the company's commitment to the health-tech sector and its potential for future growth.
- Market Reaction: Following the announcement, Reliance's stock fell by 4.93% to $0.58, reflecting market caution regarding the acquisition and potentially impacting the company's short-term stock performance.
- Future Outlook: CEO Ezra Beyman stated that through the acquisition of Scentech, Reliance aims to expand its influence in the health-tech field, which, if successfully developed and commercialized, could provide new growth opportunities for the company.
See More
India's Fuel Consumption Hits 21.75 Million Tons in December, Setting Record
- Significant Consumption Growth: India's fuel consumption reached 21.75 million tons in December, a 5.3% year-on-year increase, marking the highest monthly record since April 1998, which underscores the robust recovery of the domestic economy and solidifies India's position as the world's third-largest oil consumer.
- Gasoline Sales Rebound: December gasoline sales stood at 3.56 million tons, up 1.1% from November and 7.1% year-on-year, indicating a sustained recovery in consumer demand that could drive growth and investment in related sectors.
- Rising LPG Consumption: Liquefied petroleum gas consumption rose by 11.2% year-on-year to 3.08 million tons, reflecting an increasing demand for cleaner energy in households and industries, thereby promoting an optimized energy structure.
- Diesel Consumption Fluctuations: Although diesel consumption increased by 5% year-on-year to 8.46 million tons, it saw a month-on-month decline of 1.1%, highlighting the impact of seasonal demand variations that could affect future supply chain management and pricing strategies.
See More
