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Nayara Energy Seeks Local Lender Amid EU Sanctions

8/7/2025

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Summary

Story summary

Nayara Energy, the Mumbai-based oil refiner partly owned by Rosneft, is on the hunt for a local lender like UCO Bank to navigate the banking caution spurred by EU sanctions. With a robust INR105.5 billion ($1.2 billion) in cash, the company is poised to finance crude imports and fuel exports, sustaining 8% of India's refining capacity despite the hurdles.

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Story summary

Nayara Energy, the Mumbai-based oil refiner partly owned by Rosneft, is on the hunt for a local lender like UCO Bank to navigate the banking caution spurred by EU sanctions. With a robust INR105.5 billion ($1.2 billion) in cash, the company is poised to finance crude imports and fuel exports, sustaining 8% of India's refining capacity despite the hurdles.