“The Rosneft oil company consider the European Union’s decision to implement restrictive measures on the Indian refinery of Naira Energy, which is inappropriate and illegal,” said in a statement.
“These restrictions are still another example of supernatural implementation of politically motivated sanctions that violate international law and violate the economic interests of a sovereign state.”
Also read: India’s $ 15 BN oil exports to the European Union at risk amidst new Russia sanctions
The European Union on Friday banned Rosneft’s Indian Oil Refinery and reduced the oil cap cap as part of a new measure of measures against Russia on its war in Ukraine.
The package of fresh restrictions on Russia included new banking restrictions and curb on fuel made of Russian crude oil. Low oil price cap – is currently set to USD 60 per barrel – this means that Russia will be forced to sell their raw raw at low rates. As the second largest buyer of Russian oil, India benefits from the move. Russian crude is currently about 40 percent of India’s total oil imports. The Russian firm said, “Rosneft stressed that it is not a controlled shareholder of Nair Energy – the company accounts for less than 50%in the authorized capital of enterprise.”
Rosneft said that the European Union Aadhaar has been completely far and wide to ban the ban and is incorrect in materials. “Nair Energy is an Indian legal unit whose economic activity is aimed at the development of its property. The unit is fully taxed in India.
“Nayara energy shareholders have never received dividend payments and accumulated benefits have been used especially for the development of refinery and petrochemicals and the development of the company’s retail network in India,” it said.
Nair Energy Refinery is a strategically important property for the Indian energy industry, providing a stable supply of petroleum products in the country’s domestic market.
“Implementing restrictions against the refinery directly pose a threat to India’s energy security and will negatively impact it,” said Rosneft.
“Such action of the European Union ignores not only for international law, but also for the sovereignty of third countries.
“Rosneft sees these restrictions as part of the disastrous policy of the European Union with the aim of destabilizing global energy markets. The ban on Naira Energy is still another example of the use of unfair competition practices of the European Union,” this said.
Rosneft said that it is relying on the fact that Naira Energy will take measures to protect the legitimate interests of its shareholders and consumers, which will be supported by the governments of Russia and India.
