Russian oil major Rosneft-backed Nayara Energy Ltd is engaging with the Indian government and trade partners to ensure smooth transactions and maintain operational stability at its Vadinar refinery in Gujarat, which has been impacted by European Union sanctions.The company, included in the EU’s 18th sanctions package on Russia over the Ukraine conflict, has faced challenges in securing shipping and banking channels since the sanctions came into effect.“In face of unjust sanctions by European Union, our refinery is operating at a healthy run rate and we continue to supply oil and oil products across India to meet the demands of our Indian consumers,” Nayara Energy said in a statement, without disclosing the exact run rate of the 20-million-tonne-per-year facility, PTI reported. “Nayara Energy continues to place the highest priority on operational, environmental and personnel safety at its facilities and towards serving the franchisees at our retail outlets. Given our commitment to Indian consumers and India’s energy security, we are actively engaging with governmental authorities and all our partners to facilitate seamless transactions and continue to maintain operational stability.” the firm added.Last month, Nayara had termed the EU sanctions as unjust and harmful to India’s interests and said it was exploring legal options. Rosneft also condemned the measures, calling them unjustified, illegal, and a direct threat to India’s energy security.Rosneft holds a 49.13% stake in Nayara, formerly Essar Oil Ltd, while Kesani Enterprises Company, an investment consortium owned by Russia’s United Capital Partners and Hara Capital Sarl, holds another 49.13%. Nayara operates over 6,750 petrol pumps across India.“Despite the supply chain disruptions caused due to EU sanctions, we remain committed to maintaining reliable transportation of our products via coastal, rail, and road networks to efficiently serve our customers and ensure there is no impact on Indian consumers. Our retail fuel stations continue to operate as usual while we diligently work to ensure uninterrupted fuel supplies across India,” the company added.
