As the EU tightens sanctions on Russian oil and fuels, India’s energy security, refinery margins, and $15bn exports to EU stand exposed to geopolitical crossfire

Nayara Energy, backed by Rosneft, has denounced the EU sanctions as unjust and harmful to India's interests, reaffirming its commitment to invest Rs 70,000 crore in downstream projects. The company argues the sanctions threaten India's energy security by disrupting petroleum product supplies.

Rosneft , Russia's biggest oil producer, on Sunday slammed European Union sanctions on India's Nayara Energy refinery as unjustified and illegal, saying the restrictions directly threatened India's energy security.