International
Iran held high-level nuclear discussions with the United Kingdom, France, and Germany on July 25 in Istanbul, marking the first face-to-face talks since recent military strikes targeted Iranian nuclear sites. The meeting was aimed at avoiding the reimposition of United Nations sanctions and finding a way forward for the stalled nuclear negotiations. Focus on Avoiding […]
Business
Alessandro des Dorides, the Chief Executive Officer of Nayara Energy, has resigned following the European Union’s sanctions that directly impact the company’s operations. Nayara Energy, a major Indian private refiner partly owned by Russia’s Rosneft, operates the Vadinar refinery in Gujarat, which processes 400,000 barrels of crude oil per day. The EU imposed restrictions
International
United States Senator Lindsey Graham has issued a strong warning to countries buying discounted Russian oil, specifically naming India, China, and Brazil. He threatened to impose 100% tariffs on imports from these nations, accusing them of helping fund Russia’s war efforts by purchasing crude oil at below-market prices. “We’ll Crush Your Economy,” Says Graham Speaking […]
Business
Nayara Energy has revised the payment terms for its latest naphtha export tender in response to recent sanctions imposed by the European Union. The company now requires advance payment or an irrevocable letter of credit for the cargo, which is scheduled for loading between August 14 and 18. The cargo volume is expected to be […]
Business
The European Union has imposed sanctions on Nayara Energy’s Vadinar refinery in Gujarat as part of its latest package targeting Russia. The move comes amid tightened restrictions on petroleum products refined from Russian crude. Nayara Energy, a major private refiner in India, is 49% owned by Russian energy giant Rosneft. Rosneft Calls Action a Violation […]
Business International
The European Union has added Nayara Energy to its latest sanctions aimed at Russia, targeting refined petroleum products made from Russian crude. Nayara, based in Vadinar, Gujarat, is nearly half-owned (49.13 %) by Russia’s Rosneft. The move could affect Rosneft’s planned sale of its stake to Reliance Industries, raising doubts over the deal’s future. What the […]
National
Union Petroleum Minister Hardeep Singh Puri has asserted that India is fully capable of meeting its energy needs even if Russian oil imports are cut off due to possible Western sanctions. Addressing concerns raised over potential secondary sanctions, Puri said India has prepared well by building a diverse and flexible sourcing strategy. Supply Diversification at […]
International
NATO Secretary-General Mark Rutte has issued a sharp warning to India, China, and Brazil, stating that they could face up to 100% secondary sanctions if they continue their trade relationship with Russia. The message was delivered during his visit to Washington, where he met US senators and discussed coordinated pressure tactics to isolate Russia economically […]