Nayara’s future unsure: India may bargain with US for Russian crude
NEW DELHI: US President Donald Trump’s threat to bring back the 25% “penalty” if India does not stop buying Russian crude has deepened the question mark on the operations of Nayara refinery in Jamnagar.
The crisis facing the refinery has triggered talks about change of ownership. While the refinery, under normal circumstances, would qualify to be a good buy, US’s hardline stance may prove to be a dampener for prospective buyers, something which is going to persist unless there is a dramatic breakthrough in the talks to get Russia to pause its aggression against Ukraine.
