Rosneft Criticizes EU Sanctions on India's Nayara Energy as a Threat to Energy Security

Rosneft, the leading Russian oil producer, has criticized the European Union's imposition of sanctions on India's Nayara Energy refinery, labeling them as baseless and a hazard to India's energy independence.

The EU's latest sanction package, targeting Russian oil assets amid the ongoing Ukraine conflict, directly affects Nayara Energy, crucial to India's energy supply. Rosneft argues this not only jeopardizes India's economy but contradicts international legal standards.

Despite Rosneft's minority stake in Nayara, the company emphasized its autonomous management and reinvestment strategy, accusing the EU of unfair global competition practices and infringing on national sovereignty.

(With inputs from agencies.)