Newly imposed European sanctions against India’s Nayara Energy refinery are “unjustified and illegal,” according to Russian oil major Rosneft PJSC that co-owns the facility.
The European Union on Friday adopted the 18th package of restrictions targeting Russia and its oil trade in condemnation of the invasion in Ukraine. The measures included sanctions against the Indian crude-processing facility, in which Rosneft holds 49.13%, as the bloc seeks to reduce the Kremlin’s energy revenues that have been supported by Russian crude exports to India.