Russia-backed Indian refiner condemns EU curbs

NEW DELHI: Russia-backed Indian refiner Nayara Energy on Monday condemned the European Union’s sanctions on it and said it was exploring legal options against the latest “restrictive measures”.

On Friday, the EU approved its 18th package of sanctions against Russia over its war in Ukraine, which includes sanctions on Nayara Energy, a refinery backed by Russian oil major Rosneft .

“Nayara Energy strongly condemns the European Union’s unjust and unilateral decision to impose restrictive measures on our company,” it said in a statement.

Rosneft holds a 49.13% stake in Nayara and a similar stake is owned by a consortium, Kesani Enterprises Co Ltd, led by Italy’s Mareterra Group and Russian investment group United Capital Partners.