India Refiner Nayara Resorts to Transferring Fuel Exports at Sea
Nayara Energy Ltd., an Indian refiner, has resorted to transferring fuel exports at sea after being hit by EU sanctions. The company's first cargo shipment since the sanctions was transferred to another tanker while at sea, suggesting Nayara's efforts to maintain fuel exports despite the restrictions. The EU sanctions, imposed as a result of Russia's invasion of Ukraine, have disrupted Nayara's operations as the company has ties to Russian oil giant Rosneft. Transferring fuel cargoes at sea, a practice known as ship-to-ship (STS) transfer, allows Nayara to potentially conceal the origin of its exports and continue supplying international markets. The article highlights the challenges faced by Nayara and other companies with Russian connections as they navigate the complex geopolitical landscape and seek ways to maintain their business operations in the face of international sanctions.
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