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New European Union sanctions targeting Nayara Energy, a major Indian refinery with significant Russian ties, are expected to have a limited impact on global oil markets, according to Rystad Energy.
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These measures risk backfiring by increasing fuel prices in Europe while straining trade relations with India.
These measures are set to isolate Nayara from the European distillate market within a transition period of a few months.
Nayara Energy, in which Russia's largest oil producer Rosneft has a 49.13% stake, was hit in a fresh package of sanctions imposed on Friday by the European Union over Russia's war on Ukraine that ...
The warnings come days after the European Union sanctioned Nayara Energy’s Vadinar refinery in Gujarat, citing its ties to ...
The EU's latest round of sanctions against Russia, adopted last Friday, are set to create significant ripples in the global ...
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