Nayara Energy Navigates Sanctions to Maintain India's Energy Flow

Nayara Energy Ltd, backed by the Russian oil giant Rosneft, is actively negotiating with the Indian government and trade partners to ensure seamless transactions following the imposition of European Union sanctions. These measures form part of the EU's broader sanctions against Russia amid the ongoing conflict in Ukraine.

The refiner has faced considerable challenges in securing shipping and banking avenues post-sanctions but emphasizes that its operations continue at a healthy rate. The company remains focused on serving the energy needs of its Indian consumers, maintaining safe operational practices across its facilities.

Rosneft and Nayara have both criticized the EU sanctions as unjust and detrimental to India's interests, highlighting the essential role Nayara plays in India's energy security. With strategic engagements and legal considerations underway, Nayara aims to overcome the supply chain disruptions and sustain its market commitments.

(With inputs from agencies.)