Russia has reportedly turned to gasoline refined by Nayara Energy through international trading firms as it works to address fuel shortages triggered by repeated
Ukrainian strikes on its energy infrastructure. According to a Reuters report, Russia had begun importing gasoline from India by sea. While the earlier report did not identify the refiner supplying the fuel, people familiar with the matter have now indicated that Nayara Energy is the source. The company, however, has not confirmed the reports. Responding to questions on Thursday, Union Petroleum Minister Hardeep Singh Puri said Indian refiners were not selling fuel directly to Russia. At the same time, he acknowledged that fuel produced in India could still reach Russian buyers through intermediaries. He said Russian it was "possible" buyers could be sourcing Indian-made fuel through trading firms. The minister's remarks come amid increased scrutiny over fuel movements involving Russian-linked companies and international commodity traders. Nayara Energy has been operating under a different business model since the European Union imposed sanctions on the company last July. The restrictions complicated transactions with customers and suppliers, prompting the refiner to increasingly depend on trading companies for crude procurement as well as exports of refined petroleum products. The company operates a 400,000-barrels-per-day refinery at Vadinar in Gujarat. Following the sanctions, the refinery shifted entirely to processing Russian crude after alternative suppliers reportedly stopped supplying feedstock.Rosneft, Russia's state-controlled oil producer, owns a 49 per cent stake in Nayara Energy. Tanker Data Points To Russia-Bound Shipment Reuters reported on Wednesday, citing industry sources, that at least 60,000 metric tons of gasoline had already been shipped from India to Russia. According to one of the sources, the shipments consisted of two cargoes carrying around 30,000-40,000 metric tons each. Shipping documents reviewed by Reuters showed that the tanker 'Agni' loaded gasoline at Nayara's Vadinar refinery on June 20, with Fujairah listed as the intended destination. However, vessel-tracking information from LSEG indicated that the Cameroon-flagged tanker did not stop at Fujairah. Instead, it continued past the port, transited the Suez Canal and proceeded north, suggesting the cargo was headed towards Russia.
