The Russian state company "Rosneft" called the European Union's sanctions against the Indian oil refinery "Nayara Energy" "unjustified and illegal." This was reported by UNN with reference to the company's statement.
Details
As is known, "Rosneft" owns a 49% stake in the Indian refinery. At the same time, the "Nayara Energy" refinery processes about 400,000 barrels of oil per day and owns almost 7,000 fuel retail outlets across India. It is also developing an integrated petrochemical plant next to its refinery.
These sanctions are another example of the extraterritorial application of politically motivated restrictions that grossly violate the norms of international law and infringe upon the economic interests of a sovereign state
They called the actions of the European Union demonstrating "complete disregard not only for international law, but also for the sovereignty of third countries," and consider these sanctions as "part of the destructive policy of the EU aimed at destabilizing global energy markets."
Restrictions against Nayara Energy are another example of the European Union's use of unfair competition practices
Meanwhile, the Indian Ministry of Foreign Affairs stated that it does not agree to unilateral EU sanctions on Indian companies, and India's energy sector is a matter of the country's citizens' "security."
"The Government of India considers ensuring energy security a priority responsibility to meet the basic needs of its citizens. We emphasize that there should be no double standards, especially when it comes to energy trade," the statement from the Indian foreign ministry said.
Recall
The EU Council approved the 18th package of sanctions against Russia, covering the energy, banking, and military sectors. The restrictions include lowering the oil price cap, banning transactions with "Nord Stream," and expanding the list of sanctioned individuals and companies.