According to the British news agency Reuters, Saudi Arabia’s state-owned company Aramco and Iraq’s oil marketing company Sumo have suspended crude oil supplies to Indian company Nayara Energy. This move comes after the European Union imposed sanctions on Russian-backed entities.
Sources say that since July, the Indian energy company has not received any oil from Saudi Arabia and Iraq. In August, Nayara Energy was forced to completely depend on Russian crude oil.
According to the report, Nayara usually imported 2 million barrels of Iraqi and 1 million barrels of Saudi oil every month, but in August it could not receive a single barrel from both countries.
As a result of the European Union sanctions, the company is not only having difficulties in purchasing oil but also facing obstacles in selling and shipping its products. The Nayara refinery in the Vadinar area of the Indian state of Gujarat is currently operating at only 70-80 percent capacity.
