India responds to EU sanctions on Russia including oil refinery in Gujarat

Khaleej Times

a day ago

After the European Union imposed sanctions on Russia, which include a Rosneft ROSN.MM oil refinery in Gujarat, India has responded saying that it "does not subscribe to any unilateral sanction measures".
India considers "provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," Randhir Jaiswal, the official spokesperson of the Indian Ministry of External Affairs said in a statement on X.
India said it remains full committed to legal obligations as a "responsible actor". The ministry also stressed that "there should be no double standards, especially when it comes to energy trade."
The EU imposed the sanctions on Russia over its war with Ukraine, and aim to impact its energy industry.
The sanctions include a lower price cap on Russian oil — a move designed to shrink Moscow's energy revenues without disrupting global markets by severing Russian supply entirely.
It also means the EU will no longer import any petroleum products made from Russian crude, although the ban will not apply to imports from Norway, Britain, the US, Canada and Switzerland, EU diplomats said.
It is as part of this restriction that sanctions targeted India's Nayara oil refinery with Russia's largest oil producer Rosneft as its main shareholder.