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Piyush Goyal Addresses Sanctions on Russian Oil Companies
(MENAFN) Indian Commerce Minister Piyush Goyal has called attention to the Western hypocrisy regarding sanctions on Russian oil companies.
He pointed out the double standards in granting exemptions to these companies while pressuring India to halt its purchases.
Goyal made these remarks during a panel discussion at the Berlin Global Dialogue conference on Friday, responding to his British counterpart, Chris Bryant, who had justified the UK's exemptions for Rosneft despite calls for India to stop trading with Russia.
Goyal mentioned, "I read a report that Germany has reached out to the US for seeking exemption [for a Rosneft subsidiary].
The UK already has an exemption for procuring oil." He was referring to the fact that several Western nations had made exceptions for certain Russian oil operations. Bryant, who was seated beside Goyal, interjected, explaining that the issue was only relevant to a "particular" subsidiary of Rosneft.
However, Goyal quickly countered, questioning why India, which also hosts a Rosneft refinery, was being singled out for scrutiny.
The refinery Goyal was referring to is Nayara Energy, a major Indian oil company partly owned by Rosneft.
Nayara was included in the European Union's 18th sanctions package in July and was also targeted by new UK sanctions in mid-October.
Nayara Energy, one of India's largest refineries, exports its petroleum products worldwide, including to Europe, and faces potential disruption due to the new sanctions imposed on Russian oil giants Rosneft and Lukoil.
In addition, Goyal's comments came in the context of the ongoing sanctions pressure on India and other countries engaged with Russian energy companies.
Reports from a news agency highlighted that Berlin had requested an exemption for Rosneft's German operations, which were placed under government trusteeship in 2022.
These operations, which involve stakes in several refineries, are central to Germany's energy interests, thus prompting the request for an exemption.
He pointed out the double standards in granting exemptions to these companies while pressuring India to halt its purchases.
Goyal made these remarks during a panel discussion at the Berlin Global Dialogue conference on Friday, responding to his British counterpart, Chris Bryant, who had justified the UK's exemptions for Rosneft despite calls for India to stop trading with Russia.
Goyal mentioned, "I read a report that Germany has reached out to the US for seeking exemption [for a Rosneft subsidiary].
The UK already has an exemption for procuring oil." He was referring to the fact that several Western nations had made exceptions for certain Russian oil operations. Bryant, who was seated beside Goyal, interjected, explaining that the issue was only relevant to a "particular" subsidiary of Rosneft.
However, Goyal quickly countered, questioning why India, which also hosts a Rosneft refinery, was being singled out for scrutiny.
The refinery Goyal was referring to is Nayara Energy, a major Indian oil company partly owned by Rosneft.
Nayara was included in the European Union's 18th sanctions package in July and was also targeted by new UK sanctions in mid-October.
Nayara Energy, one of India's largest refineries, exports its petroleum products worldwide, including to Europe, and faces potential disruption due to the new sanctions imposed on Russian oil giants Rosneft and Lukoil.
In addition, Goyal's comments came in the context of the ongoing sanctions pressure on India and other countries engaged with Russian energy companies.
Reports from a news agency highlighted that Berlin had requested an exemption for Rosneft's German operations, which were placed under government trusteeship in 2022.
These operations, which involve stakes in several refineries, are central to Germany's energy interests, thus prompting the request for an exemption.
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