Russia-backed Indian refiner Nayara Energy, sanctioned by the European Union, did not award a spot naphtha export tender after revising its payment terms, three trade sources said on Wednesday.
This is the first case of the private refiner skipping the award of a tender since the European bloc released its 18th package of sanctions last week, which included Nayara Energy, part-owned by Rosneft.
Nayara, which operates a 400,000 barrels-per-day refinery in western Gujarat state, had revised the terms and sought advance payment or a letter of credit for sale of the 33,000-35,000 metric ton cargo scheduled for August 14-18 loading.
The tender closed on Monday.
Nayara did not immediately respond to Reuters' emails seeking comment.
A tanker chartered by energy major BP left a port run by Nayara Energy without loading, a sign fresh European Union curbs on Russia are beginning to bite.
Nayara has condemned the EU's decision to impose sanctions on the company as "unjust and unilateral".
This is the first case of the private refiner skipping the award of a tender since the European bloc released its 18th package of sanctions last week, which included Nayara Energy, part-owned by Rosneft.
Nayara, which operates a 400,000 barrels-per-day refinery in western Gujarat state, had revised the terms and sought advance payment or a letter of credit for sale of the 33,000-35,000 metric ton cargo scheduled for August 14-18 loading.
The tender closed on Monday.
Nayara did not immediately respond to Reuters' emails seeking comment.
A tanker chartered by energy major BP left a port run by Nayara Energy without loading, a sign fresh European Union curbs on Russia are beginning to bite.
Nayara has condemned the EU's decision to impose sanctions on the company as "unjust and unilateral".
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