EU Imposes Sanctions on Indian Oil Refinery
(MENAFN) The European Union (EU) has revealed new sanctions targeting India’s second-largest oil refinery.
The Vadinar facility, located in Gujarat, is partially owned by the Russian corporation Rosneft.
This move forms part of the EU’s 18th set of sanctions aimed at Russia due to the ongoing conflict in Ukraine.
Additionally, these sanctions focus on Chinese banks accused of facilitating the circumvention of imposed restrictions.
“For the first time, we’re designating a flag registry and the biggest Rosneft refinery in India,” stated EU foreign policy chief Kaja Kallas on Friday via X.
The Vadinar refinery boasts an annual processing capacity of 20 million tonnes and is operated by Nayara Energy, a joint Indo-Russian private enterprise where Rosneft holds a 49% share.
The EU remains a significant purchaser of the Russian crude oil refined at this facility.
By sanctioning India’s flag registry — the official registry of all vessels flying a nation’s flag — the EU gains the ability to penalize any Indian-flagged ship engaged in the transport of Russian oil.
This strategic move aims to tighten the restrictions on Russia’s oil exports through maritime channels.
Kallas described the recent sanctions as “one of its strongest sanctions package (sic) against Russia to date.”
She further emphasized, “We’re cutting the Kremlin’s war budget further, going after 105 more shadow fleet ships, their enablers, and limiting Russian banks’ access to funding.”
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