Sanctions Squeeze Nayara Energy Operations

Nayara Energy, an Indian refinery company with Russian backing, has scaled down operations at its 400,000 barrels per day facility following new European Union sanctions, according to five sources.

The July 18 sanctions, aimed at Russia's energy sector, have complicated Nayara's export activities, causing storage challenges, said two of the sources on condition of anonymity. A request for comment from Nayara remains unanswered.

Reuters recently reported disruptions in tanker loadings at Nayara's Vadinar port, with at least two tankers skipping planned operations and a Russian crude carrier being rerouted from the refinery.

(With inputs from agencies.)