Nayara Skips Naphtha Tender After EU Sanctions

25 Jul 2025 CW Team

Russia-backed Indian refiner Nayara Energy, recently sanctioned by the European Union, has withheld awarding a spot naphtha export tender after altering its payment terms, according to three trade sources on Wednesday.

This marks the first time the private refiner has not awarded a tender since the European bloc introduced its 18th sanctions package last week, which named Nayara Energy—part-owned by Russia’s Rosneft. The company, which operates a 400,000 barrels-per-day refinery in Gujarat, had changed its terms, seeking either advance payment or a letter of credit for the sale of a 33,000–35,000 metric tonne cargo scheduled to load between 14 and 18 August.

The tender closed on Monday without an award, and Nayara has not responded to emails from Reuters requesting comment.

Meanwhile, a tanker chartered by BP reportedly departed from a Nayara-operated port without loading, suggesting that the new EU sanctions may be impacting operations.

Nayara has criticised the EU’s move, calling the sanctions “unjust and unilateral”.

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