Nayara Energy's Leadership Shake-Up Amid EU Sanctions

Nayara Energy, an Indian refiner with backing from Russia's Rosneft, has appointed Sergey Denisov as its new chief executive officer. The leadership change follows European Union sanctions that prompted the resignation of former CEO Alessandro des Dorides, according to sources familiar with the situation.

The sanctions have led to significant disturbances for Nayara, including the diversion of a tanker carrying Russian Urals crude from its Vadinar port to another location in western India, as reported by Reuters. Additionally, two other tankers bypassed loading refined products at Vadinar.

Nayara, which holds a 49.13% stake from both Rosneft and a consortium led by Mareterra Group and United Capital Partners, has criticized the EU's sanctions as 'unjust and unilateral.' India, now the leading importer of Russian seaborne oil, has stated its opposition to the EU's measures.

(With inputs from agencies.)