India slams european union: India has reacted strongly to the new sanctions imposed by the European Union. Foreign Ministry spokesman Randhir Jaiswal has said that India does not accept any kind of unilateral sanctions. He said that India is a responsible global partner and is committed to all its legal obligations.
Describing energy security as its top priority, the Government of India said that the availability of energy is necessary to meet the basic needs of the citizens of the country. At the same time, India also made it clear that any kind of double standards are not acceptable in terms of energy trade. India’s strict response has come when western countries are pressurizing the developing countries on oil trade from Russia. But themselves are keeping the option open.
In fact, the European Union has targeted a major refinery in India for the first time, announcing new sanctions on Russia. EU’s top diplomat Kaza Kailas said, “For the first time we are restricting a flag registry and the largest Rosneft refinery located in India.”
The ban has been imposed on the refinery located at Wadinar in Gujarat. In which Russia’s government oil company Rosneft has an important stake. The Vadinar refinery is not only the backbone of India’s energy needs. Also one of South Asia’s largest and strategically important refineries. The European Union has announced the 18th round of economic sanctions on Russia due to the Russia-Ukraine War. In this new package, the European Union has also included refineries that refine Russian crude oil by targeting Russia’s oil exports globally. It also includes a major refinery of India.
A statement issued from Brussels stated that the largest Rosneft refiners in India are now included in the banned units. However, the name of the refinery was not officially mentioned. But the indications are clear that this is the Wadinar Refinery of Gujarat. Which was previously built by Essar Oil and now operates Naira Energy Limited. Russian company Rosneft holds a 49.13% stake in this company. The European Union has also imposed restrictions on Nord Stream Gas Pipelines and has fixed the condition of keeping the price of Russian crude oil 15% less than the market price. Its purpose is to limit Russia’s energy revenue.
