Anastasia Gorbacheva 09:41, 21.07.25 UNIAN
Rosneft stated that Nayara Energy’s profits were used to develop the company
The Russian oil company Rosneft has come to the defense of its Indian subsidiary, the Nayara Energy oil refinery, which has been hit by European Union sanctions .
Bloomberg reports that the European Union has adopted its 18th round of sanctions on Russia and its oil in condemnation of its invasion of Ukraine. The measures include sanctions on an Indian refinery in which Rosneft owns a 49.13% stake, as the bloc seeks to cut the Kremlin’s energy revenues, which are supported by Russian oil exports to India.
“Nayara Energy shareholders have never received dividends, and the accumulated profits have been used exclusively for the development of the company’s refinery, petrochemical production and retail network in India,” Rosneft said in a statement.
Nayara operates a 400,000-barrel-per-day refinery and owns nearly 7,000 fuel stations across India. The company is also developing an integrated petrochemical plant next to its refinery.
Nayar is currently owned by Rosneft and investment consortium SPV Kesani Enterprises Co., with the remaining shares held by retail investors. According to local media reports, the Russian oil company is seeking to exit the Indian venture because the company cannot repatriate its earnings due to sanctions.
“Rosneft expects Nayara to take measures to protect the legitimate interests of its shareholders and consumers, which will be supported by the governments of Russia and India,” the statement said.
The sanctions against Nayara Energy were also called “unfounded and illegal.”
The 18th package of EU sanctions against Russia – India is under attack
The Indian company Nayara Energy Ltd , which owns an oil refinery in Vadinar (Gujarat) and almost 7,000 gas stations, has been placed under EU restrictions .
At the same time, Indian Foreign Ministry spokesman Radhir Jaiswal stated that New Delhi does not support the European Union’s “unilateral sanctions” against Russia.
“…the Russian oil company is seeking to exit the Indian venture because the company cannot repatriate its earnings due to sanctions.”
Bhaaaaaahaaaaaahaaaaaaaaaaaaaaaaaaaa!
Getting the cockroaches to go hysterical is always a good thing. Next, the drunkest ruskie monkey will drool and spit his usual nuke threats.