Mumbai-based oil refiner Nayara Energy, which is part-owned by Russian energy company Rosneft PJSC, is facing challenges due to European Union sanctions. The company has anchored a tanker loaded with its oil product off Oman in a region known for ship-to-ship transfers, amid efforts to manage the impact of these sanctions. Following increased caution from larger banks triggered by the EU restrictions, Nayara Energy has requested Indian government officials to facilitate a relationship with a domestic lender, such as UCO Bank, to support its banking needs. The sanctions have also led Indian refiners to reduce imports of Russian oil, contributing to a widening discount of over $5 per barrel on Russian Urals crude.