Rosneft describes EU sanctions on Indian refinery as ‘unjustified and illegal’
(MENAFN) Rosneft has criticized the European Union’s recent sanctions on India’s second-largest oil refinery, labeling the move as “unjustified and illegal.”
The sanctions target the Vadinar refinery, operated by Nayara Energy, a joint Indo-Russian venture in which Rosneft holds a 49% stake. In a statement on Sunday, Rosneft condemned the EU’s actions, describing them as a politically driven overreach that violates international law and undermines the economic interests of a sovereign nation.
“These measures represent yet another example of the EU’s extraterritorial application of politically motivated restrictions,” Rosneft said.
The Russian energy giant further accused the EU of using the sanctions to stifle competition unfairly. The latest penalties are part of the EU’s 18th sanctions package against Russia, imposed over the Ukraine conflict. This round also included sanctions on India’s shipping registry.
Vadinar’s refinery processes 20 million tons of crude annually, with the EU reportedly being a significant buyer of Russian oil refined there.
Rosneft emphasized that it does not control Nayara Energy, as its stake remains below 50%. It called the EU’s claims “far-fetched and false,” highlighting that Nayara is a fully Indian company, subject to Indian taxes, with profits reinvested into India’s domestic energy infrastructure.
“These sanctions directly threaten India’s energy security and could harm its economy,” Rosneft warned.
India’s Foreign Ministry responded on Friday by reaffirming that New Delhi does not recognize unilateral sanctions and remains a “responsible actor” in the global energy market.
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