NEW DELHI: Nayara Energy, an Indian refinery supported by Russia, has expressed strong disapproval of the European Union’s recent sanctions against it. The company announced it is looking into legal options to challenge these new “restrictive measures.”
On Friday, the EU rolled out its 18th set of sanctions targeting Russia due to its ongoing conflict in Ukraine, which now includes Nayara Energy, a refinery linked with the Russian oil giant Rosneft.
In a statement, Nayara Energy said, “We firmly condemn the European Union’s unfair and unilateral choice to impose these measures on our company.”
Rosneft holds a 49.13% stake in Nayara, while a similar share is owned by a consortium led by Italy’s Mareterra Group and Russian investment group United Capital Partners.
