In this episode of Facts & Figures on Molitics, we dive deep into the story of how the Russia-Ukraine war, cheap Russian crude oil, and India’s oil imports have shaped the fortunes of Mukesh Ambani’s Reliance Industries—while leaving ordinary Indians behind. After the war began, Russia sold crude oil at heavy discounts compared to global market rates. India increased its Russian crude imports from less than 2% in 2021 to almost 38% in 2025. The government claimed this would benefit the people with cheaper fuel. But the reality? Cheap Russian oil landed in Jamnagar, Reliance’s refinery hub, and was exported to Europe and the US at high margins. Reliance alone pocketed nearly $6 billion in extra profits, while fuel prices in India remained high. The situation escalated when Donald Trump imposed 25% tariffs on Indian exports, later doubling them to 50%. This directly hit India’s textiles, jewelry, leather, fisheries, steel, and machinery sectors, risking millions of jobs and wiping out billions in exports. Meanwhile, Ambani’s empire kept expanding, with Reliance controlling everything from energy to telecom, fashion, and even entertainment. So the big question is—was this about India’s energy security, or just about protecting Ambani’s profits? Watch the full breakdown with facts, data, and global implications.