Rosneft Criticizes EU Sanctions on India's Nayara Refinery

Rosneft, Russia's leading oil producer, has condemned the European Union's sanctions on India's Nayara Energy refinery, labeling the measures as both unjustified and illegal. On Sunday, Rosneft highlighted its concern that the sanctions pose a direct threat to India's energy security, accusing the EU of disregarding international law.

The Nayara Energy refinery is highlighted as a crucial asset to India's energy sector, ensuring a dependable supply of petroleum to the domestic market. By imposing sanctions, the EU potentially jeopardizes India's energy stability and could negatively influence its economy, according to Rosneft's statement.

Rosneft, not the controlling shareholder with less than a 50% stake, emphasized that Nayara operates under an independent board. The Russian oil giant argues that the EU's actions are part of a broader strategy to unsettle global energy markets and pursue unfair competition.

(With inputs from agencies.)