India prioritises energy security, emphasising the need for a clear global energy market perspective without double standards, according to Foreign Secretary Vikram Misri. This statement follows EU sanctions targeting Russia’s energy sector, including restrictions on the Vadinar refinery.
The oil tanker Talara, chartered by BP, departed from India’s Vadinar port without loading diesel as scheduled. The vessel was expected to load ultra low sulphur diesel for Africa on July 21. This occurred after Nayara Energy, partly owned by Rosneft, faced EU sanctions for dealing with Russian oil.
Indian private refiners, benefiting from discounted Russian crude, face challenges due to new EU sanctions banning imports of refined products made from Russian oil. Reliance and Nayara Energy, major exporters to Europe, will need to reroute supplies and rely on traders. The sanctions may increase fuel prices for Europe, while Indian state refiners are less…