India’s Nayara Energy has issued a strong statement in response to the restrictive measures imposed by the European Union, calling them “unfair, unilateral and without legal basis”. The company, which operates one of the country’s largest refineries, accuses the European bloc of ignoring international law and India’s sovereignty by sanctioning its operations for processing Russian crude.
Nayara Energy’s press release
Nayara Energy, which accounts for approximately 8% of India’s total refining capacity and employs more than 55,000 people, says its operations are fully compliant with national legislation. The company claims that the sanctions threaten the stable supply of petroleum products essential to Indian citizens and industries, and that it is exploring legal avenues to protect its interests.
Since 2017, Nayara has invested over ₹14 billion in energy infrastructure, including a new petrochemical plant and expansion of its retail network. In addition, it projects investments in excess of ₹70 billion in petrochemicals, ethanol, marketing, and ESG projects.
Finally, it highlights its role as one of the country’s top tax payers, with more than ₹2.5 trillion in accumulated taxes since 2017. In addition, the company reaffirms that all its operations continue as normal and that no disruptions to its activities or strategic objectives are foreseen.
Source and photo: Nayara Energy
