EU Sanctions India’s Nayara Energy Over Russian Ties, Risking Diplomatic Fallout

EU Sanctions India’s Nayara Energy Over Russian Ties, Risking Diplomatic Fallout

Image via: nayaraenergy

Recently, the European Union imposed sanctions on India's Gujarat-based Nayara Energy Ltd, effectively banning it from exporting refined oil. The move comes due to Russia’s major oil firm, PJSC Rosneft (which holds a 49.13% stake in Nayara). This exposes the EU’s double standards, as several EU nations continue buying Russian oil and gas themselves. Such decisions could strain EU-India ties further and push India closer to alternative blocs like BRICS, where its strategic interests may find stronger alignment.