Nayara Energy mulls legal recourse on EU sanctions, reiterates investment commitment
NEW DELHI: Rosneft -backed Nayara Energy, who caught the plus signs of Western sanctions, returned to the European Union (EU) Vadinar refinery in Gujarat to the blacklist and called the action -free, unilateral and unilateral and international law.
In a statement on Monday, the company said that it actively explores all legal options and claims that the EU claims that India weakens its sovereignty and ignores global norms.
Nayara, who objected to sanctions LaIn addition to other projects, 70,000 Crore between petrochemicals, ethanol plants, marketing infrastructure expansion.
India’s second largest single -sitting -site refinery running and the country’s refining capacity of 8% of the company, stressed that its operations fully complies with Indian laws.
“We categorically state that this unilateral movement of the European Union is based on unfounded claims representing the expansion of an unnecessary authority that ignores both international law and India’s sovereignty.” He said.
Nayara Energy, who runs 20 million tons of refinery in Vadinar, said that India is connected to the growth story and investing. LaSince August 2017, 14,000 Crore in various projects in India, including raising its existing refining facilities, investing in a new petrochemical facility and investing in other new infrastructure projects.
“Nayara Energy will continue to invest LaPetrochemical, ethanol plants, marketing infrastructure expansion and ESG projects, including refinery reliability for 70,000 crore in the long term, ”he said. La200 crore dedicated to meeting the different needs of the communities we serve. “
National Priorities
Summarizing his operations in India, Nayara said that his operations are closely in line with India’s national priorities, because the country’s total refining capacity, 7% of India’s retail gasoline pump network and approximately 8% of polypropylene capacity. It also employs more than 55,000 direct and indirect employees throughout the country.
“With the investments that continue to expand to petrochemicals and retail network expansion, our domestic infrastructure, employment -creating investments underlined our unhappy commitment to the growing Indian market and advances the country’s passion for self -sufficiency.” He said.
The company said it has contributed since August 2017. La2.5 Lakh Crore in Cumulative direct and indirect taxes in India.
In August 2017, Rosneft closed the strategic process to acquire 49.13% of Essar Oil LTD shares from Essar Energy Holdings LTD (EOL) and its affiliated organizations and re -branded Nayara Energy in 2018.
Moscow -based Rosneft Oil Co. On Sunday, he described the EU’s sanction of ENERGY’s refinery in Gujarat as “unjust and illegal”.
Rosneft said that Nayara Energy was not controlled by the company’s share in the authorized capital of the enterprise and that the Indian enterprise was ruled by an independent board of directors.
On Friday, Russia announced sanctions at the EU Nayara’s Vadinar refinery, in order to aim to increase Russia’s ability to increase revenues from the oil and energy sector because it was a long -term war with Ukraine, and also reduced the price limit in Russian oil from $ 60 to $ 47.6%. In addition to other steps, it brought sanctions to ‘shadow fleet ships’, which was largely used to move crude oil from Russia.
Nayara Energy swams for adopting double standards. “While many European countries continue to import Russian energy through various sources, they receive a high moral ground by scolding and sanctions to process an Indian asset to process Russian crude oil used by 1.4 billion Indian and enterprise.” He said.
Following the EU movement, Foreign Ministry spokesman Randhir Jaiswal (MEA) said in a statement late on Friday, that India is not subscribing to unilateral sanctions. Söz We are fully adhered to our legal obligations and our legal obligations, Söz said Sözcü.
The MEA spokesman said that he saw the energy security of the Indian government as a very important responsibility to meet the basic needs of his citizens. “We will emphasize that the double should not be standard, especially when it comes to energy trade,” Jaiswal said.
