No kickbacks in Iraq deal: RIL

Reliance Industries on Monday clarified that the company made purchases from Iraqi crude oil suppliers at the then prevailing international prices and no other payments were involved in these purchases.

In a clarification, RIL said ''The company would like to make it abundantly clear that it purchased Iraqi crude oil from suppliers pursuant to United Nation approved contracts under 'oil-for-food' programme for use in its refinery''.

''Apart from the payment at then prevailing price of crude oil, no other payments were involved in these purchases'', the note added.

RIL's clarification was in response to recent media reports about the Volcker's Report on the Iraqi Oil- for-food programme that made a reference to Reliance Industries.