Rosneft owns a 49% stake in Indian refinery, which has fallen on the European Union’s list of penalties.
Russian state company Rosneft has been angry with European penalties against Indian oil refrigerator Nayara Energy, which owns about half of the shares. On Sunday, July 20, the company said.
Rosneft is considered “baseless and illegal” penalties, as well as “another example of extraterritorial application of political restrictions.”
According to Bloomberg, Rosneft owns a portion of Indian oil refinery, 49%in size.
Nayara Energy reduces about 400 thousand barrels of oil per day and owns about 7,000 outlets for the sale of gasoline throughout India. He also develops a combined petrochemical plant adjacent to his oil refinery.
Rosneft said the company “does not receive dividends from refinery revenue, and the plant itself pays taxes in India, and uses revenue for the development of oil refineries and petrochemical plants, as well as the company’s retail network in India.”
The Foreign Ministry of India also said that they do not agree with the unilateral penalties of the European Union with India companies, and India’s energy sphere is the issue of “security” of the people of the country.
As you know, on July 18, the European Union approved 18 packages of sanctions against Russia. One of its key points is a significant decrease in the ceiling of Russian oil prices.
The European Union has published a list of penalties of 18 packages
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.