India clears ships for Nayara’s domestic fuel supply; dollar trade restrictions persist

Indian authorities have cleared EU-sanctioned Nayara Energy to use four foreign-flagged ships for coastal transportation of fuels such as petrol and diesel within the country, but its non-Russian overseas trade remains stalled due to the unavailability of banking channels.

The Directorate General of Shipping has approved four foreign-flagged ships being used for the coastal movement of fuel produced by Nayara and efforts are being made to resolve the stalled dollar trade, government officials said.

Nayara Energy did not reply to an email sent for comments.