
Fresh trouble for Russia-backed Nayara Energy! SBI stops trade & foreign currency transactions of Indian refinery; doesn’t want to risk US tariffs, EU curbs
Nayara Energy has been facing challenges since July, when the European Union enacted its 18th sanctions package. (AI image) Russia-backed Indian refinery Nayara Energy is faced with a fresh challenge. India’s largest public sector lender SBI has stopped processing international trade and forex transactions for Nayara Energy following recent US tariff hikes. The bank’s decision…