Rosneft says EU sanctions on Indian unit unjustified and illegal
New Delhi, 20 Jul (PTI) on Sunday, Russian oil giant Rosneft, the EU’s sanctions on the Indian unit Nayara Energy were called unfair and illegal.
“The Rosneft Oil Company is considering the European Union’s decision to bring Nayara Energy to the Indian refinery unjustly and illegally restrictive measures.” He said.
“These sanctions are another example of the implementation of extraterrestrial restrictions that have explicitly violated international law and violate the economic interests of a sovereign state.”
On Friday, the European Union imposed sanctions on Rosneft’s Indian oil refinery and reduced the oil price limit as part of a new release of a new measures against Russia through the war in Ukraine.
The new sanction package in Russia included new banking restrictions and pavements on Russian crude oil fuels.
The lowered oil price, which is currently 60 US dollars per barrel, means that Russia will have to sell crude oil to buyers like India at low rates. India, the second largest buyer of Russian oil, takes advantage of this movement. Russian crude oil is currently about 40 percent of India’s total oil imports.
“Rosneft emphasizes that Nayara Energy is not a controlling shareholder – the share of the company’s authorized capital in its authorized capital.” He said.
Rosneft said the reasons for the sanction of the European Union were completely distant and wrong. “Nayara Energy is an Indian legal personality aimed at the development of its assets. The establishment is completely taxed in India.
“Nayara energy shareholders have never received dividend payments and accumulated profits were used only for the development of refinery and petrochemicals and the company’s retail network in India.” He said.
The Nayara Energy refinery is a strategically important asset for the Indian energy industry and supplies stable petroleum products to the country’s domestic market.
“The implementation of sanctions against refineries directly threatens India’s energy security and will have a negative impact on its economy,” Rosneft said. He said.
“Such actions of the European Union are fully ignored not only for international law, but also for the sovereignty of third countries.
“Rosneft sees these sanctions as part of the EU’s destructive policy aimed at destabilizing global energy markets. Restrictions on Nayara energy are another example of the use of the EU’s unjust competition practices,” he said.
Rosneft said Nayara Energy will take measures to protect the legitimate interests of shareholders and consumers to be supported by Russia and Indian governments.
