TEXAS — America First Refining announced it received a nine-figure investment from a company affiliated with the Ambani family. The company plans to construct an oil refinery in the United States. This refinery is intended to be the first major new oil refinery built in the U.S. in approximately 50 years.
Donald Trump Jr. acquired a financial stake in the company. Executives at the company reported maintaining regular communication with Trump Jr. The company also referenced its connection to Trump Jr. during investor presentations. Trump Jr. attended a South Florida meeting involving executives from the company and potential investors from Saudi Arabia.
A foreign government official reported that representatives from the company indicated that investment could facilitate White House access. The Ambani family's investment occurred during the same period that Reliance Industries obtained favorable U.S. policy outcomes following lobbying efforts. This occurred while the Trump administration implemented tariff increases targeting Indian imports. In August, the administration increased tariffs on India to 50 percent, a move intended to pressure Indian companies to discontinue purchases of Russian oil. White House trade adviser Peter Navarro said, "Indian energy companies are funding Putin's war machine."
Reliance Industries generated substantial revenue by importing discounted Russian oil following the 2022 invasion of Ukraine. Anant Ambani contributed to the structuring of the Texas refinery project over several months before the investment announcement. A company previously named Element Fuels filed incorporation documents to establish America First Refining LLC.