Russia Rosneft slams EU sanctions on India's Nayara refinery

Reuters

Sun, 20 Jul 2025, 4:14 p.m. 1 min read

MOSCOW (Reuters) -Rosneft, Russia's biggest lipid producer, connected Sunday slammed European Union sanctions connected India's Nayara Energy refinery arsenic unjustified and illegal, saying the restrictions straight threatened India's vigor security.

The European Union's 18th bundle of sanctions against Russia implicit the struggle successful Ukraine, was approved connected Friday and is aimed astatine dealing further blows to Russia's lipid and vigor industry. Nayara Eenrgy was 1 of the targeted companies.

"The Nayara Energy refinery is simply a strategically important plus for the Indian vigor industry, providing a unchangeable proviso of petroleum products to the country's home market. The imposition of sanctions against the refinery straight threatens India's vigor information and volition person a antagonistic interaction connected its economy," Rosneft said.

Rosneft said it holds little than 50% successful Nayara and does not power the enterprise, which is managed by an autarkic board. It described the EU's justification for the sanctions arsenic "far-fetched and mendacious successful context."

"Nayara Energy is an Indian ineligible entity whose operations enactment the improvement of its assets," Rosneft said, adding that the institution is afloat taxed successful India, has ne'er paid dividends to shareholders, and reinvests profits into refining, petrochemicals, and retail operations.

The Russian lipid elephantine accused the EU of disregarding planetary instrumentality and third-country sovereignty, calling the determination portion of a broader effort to destabilize planetary vigor markets and prosecute successful unfair competition.

(Reporting by Vladimir Soldatkin and Maxim Rodionov; editing by Guy Faulconbridge)