Europe Sanctions on India’s Nayara Energy Puts Its Sale at Risk

Russian energy giant Rosneft’s plan to sell its stake in India-based Nayara Energy Ltd. may be imperiled by fresh restrictionsfrom the European Union.

The refinery, in which Rosneft has a 49.13% stake, will be targetted in the bloc’s 18th sanctions package over Moscow’s invasion of Ukraine, an EU official said in an X post on Friday.

Rosneft has held talks with Reliance Industries Ltd., owned by billionaire Mukesh Ambani, for a possible stake sale in Nayara, according to a local media report. The sanctions will make it difficult for Reliance to buy a stake in ...