Rosneft, Russia’s largest oil producer, slammed the European Union’s new sanctions on India’s Nayara Energy as “unjustified and illegal,” warning that the move endangers India’s energy security and economic stability.
Rosneft issued a sharp rebuke to the EU’s 18th sanctions package targeting Russia over the Ukraine conflict. Among the entities named was Nayara Energy—an Indian refiner in which Rosneft holds a minority stake.
“The Nayara Energy refinery is a strategically important asset for the Indian energy industry,” Rosneft said in a statement. “The imposition of sanctions against the refinery directly threatens India’s energy security and will have a negative impact on its economy.”
Rosneft emphasized that it owns less than 50% of Nayara and does not control the company, which it said is governed by an independent board. The Russian oil giant called the EU’s rationale for targeting the Indian firm “far-fetched and false,” asserting that Nayara is a fully Indian legal entity, pays taxes in India, and reinvests its profits into domestic refining, petrochemicals, and retail operations. “It has never paid dividends to shareholders,” the statement added.
The EU’s latest sanctions, approved Friday, are aimed at further isolating Russia’s energy sector by restricting its global economic ties. However, Rosneft accused the EU of overreach, claiming the sanctions violate international law and infringe on the sovereignty of third countries like India.
“This is a clear attempt to destabilize global energy markets and engage in unfair competition,” Rosneft said.
The backlash comes amid deepening energy ties between India and Russia. Nayara Energy is a major supplier of petroleum products in India, and Rosneft has ongoing supply deals with Indian firms, including Reliance Industries.
Rosneft’s criticism reflects broader concerns in Moscow and New Delhi over the collateral impact of Western sanctions. The Russian firm framed the EU move as not just punitive to Russia, but disruptive to global energy flows and India’s domestic fuel market.
