Miscellaneous

Nayara Energy seeks Indian ships for fuel transport amid sanctions.

Nayara Energy, a Russia-backed private refiner sanctioned by the EU, is facing challenges in securing vessels for transporting its refined fuels and has reached out to India’s shipping ministry for assistance. The company is struggling to maintain operations due to contract terminations by shippers and is experiencing disruptions in critical services. The Indian government is considering arranging India-flagged vessels from local companies to support Nayara, while vessel owners are concerned about insurance coverage for these operations. This situation highlights the complexities of international sanctions and India’s proactive approach in assisting domestic industries amidst geopolitical challenges.

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