Indian refiner Nayara seeks new local bank after EU sanctions - Business News, Finance News, Share Market News - Market trendz

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Thursday, 7 August 2025

Indian refiner Nayara seeks new local bank after EU sanctions


Nayara Energy, part-owned by Russia's Rosneft, is seeking government assistance to establish a relationship with a domestic lender like UCO Bank after EU sanctions created reluctance among larger banks. The company needs a local bank to finance crude oil imports and facilitate payments for refined fuel exports. Despite healthy liquidity, Nayara faces challenges due to sanctions and potential tariffs.

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