Rosneft Condemns EU Sanctions on India’s Nayara Refinery

22 Jul 2025 CW Team

Russia’s top oil producer, Rosneft, has strongly criticised the European Union’s latest round of sanctions targeting India’s Nayara Energy refinery, calling them unjustified, illegal, and a direct threat to India’s energy security. The sanctions, part of the EU’s 18th package aimed at weakening Russia’s oil and energy sectors amid the Ukraine conflict, included Nayara Energy among the affected entities.

Rosneft clarified that it holds less than 50% in Nayara and does not control the refinery, which is managed by an independent board. It called the EU’s rationale "far-fetched and false," noting that Nayara Energy is an Indian legal entity operating under Indian law and contributing significantly to the country’s domestic petroleum supply.

The company emphasised that Nayara pays full taxes in India, has never distributed dividends to shareholders, and reinvests its profits in refining, petrochemicals, and retail operations.

Rosneft accused the EU of violating international norms and undermining the sovereignty of third-party countries. The Russian oil major warned that such actions could destabilise global energy markets and constitute unfair competition.

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..