Indian oil refining company Nayara Energy Ltd. Partially owned by the Russian Rosneft, tightened the conditions for the sale of oil products after the introduction of sanctions by the European Union. This is reported by Bloomberg on Monday, July 21. According to an updated tender document, Nayara requires advance payment before loading a batch of oil in August. Previously, there was no such requirement. The global oil market carefully monitors the tightening of restrictions against Russia's suppliers associated with Russia, since the EU and other international associations intensify the reaction of Moscow invasion of Ukraine. Last week, the next EU sanctions were presented, which provides for reducing the price ceiling on Russian oil, restrictions on oil products, on ships and individual banks. This caused fluctuations in oil futures. India became a key buyer of Russian raw oil after the Western countries ceased imports. At the same time, the EU remained an important market for products made of Russian oil, in particular diesel, and still has not introduced restrictions against Nayara. " According to him, the prepayment requirement reflects fears that counterparties may not fulfill the obligations by tenders or banks will refuse to conduct calculations. Earlier, the Russian state -owned company Rosnft was outraged by European sanctions against the Indian oil refinery Nayara Energy. Rosneft is considered to be the sanctions " According to Bloomberg, Rosnfet owns a share of the Indian refineries of 49%.

NAYARA Energy refineries processes about 400 thousand barrels of oil per day and owns almost 7,000 retail outlets for the sale of fuel throughout India. She also develops an integrated petrochemical plant near her oil refinery. As you know, on July 18, the European Union approved 18 package of sanctions against Russia. One of its main points was a significant decrease in the ceiling of prices for Russian oil. . Subscribe to our channels https: // t. Me/Korrespondentnet and WhatsApp Author: 1.