By Alexander Miller, consultant in energy markets. Eurasia Business News, July 21, 2025. Article n°1638.
Russian oil giant Rosneft has strongly condemned the European Union’s sanctions imposed on India’s Nayara Energy refinery, labeling them “unjustified,” “illegal,” and a violation of international law. Rosneft, which holds a 49.13% stake in Nayara, asserted that these sanctions threaten India’s energy security and could negatively impact its economy.
Rosneft emphasized that Nayara Energy is an Indian legal entity, fully taxed and operating independently under an independent board, with profits reinvested exclusively into developing its refinery, petrochemical operations, and retail network in India. The company holds that the sanctions are politically motivated and represent an extraterritorial imposition that infringes upon the sovereignty and economic interests of a sovereign nation like India.
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India’s government expressed opposition to unilateral sanctions, supporting United Nations-based measures instead, reflecting broader concerns about unilateral EU sanctions affecting Indian interests.
These sanctions are part of the EU’s 18th sanctions package targeting Russia amid the ongoing conflict in Ukraine, aiming to restrict Kremlin revenues from oil exports by targeting Russian-owned stakes in foreign refineries like Nayara Energy. Rosneft warned that the EU’s actions contribute to destabilizing global energy markets and amount to unfair competition measures.
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Rosneft criticizes the EU sanctions on Nayara Energy as illegal and harmful to India’s energy security, calling for support from both the Russian and Indian governments to protect shareholder and consumer interests in the refinery.
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© Copyright 2025 – Eurasia Business News. Article no. 1638.
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