The “Reuters“ agency tracked the movement of three tankers carrying oil products of the Indian company Nayara Energy, which failed to be unloaded at ports after the European Union imposed sanctions on July 18, News.bg reports.
Nayara Energy operates the second largest oil refinery in India - the one in Vadinar, Gujarat state. The company is jointly owned: 49.13% is held by Russia's “Rosneft“, and the rest by the Kesani Enterprises consortium, including Italy's Mareterra Group and Russia's United Capital Partners. The refinery processes significant quantities of Russian crude oil, according to various sources.
On On July 18, the day the sanctions were announced, the tanker Alora, chartered by Nayara, arrived in the Portuguese port of Sines with 60,000 tons of jet fuel. Although the cargo was fully paid for, the ship remained unloaded because local companies refused to deal with the sanctioned company's products.
The second tanker, the M Zenith, carrying 40,000 tons of diesel, has turned back and anchored in the Strait of Malacca, although it was originally scheduled to dock in Tanjung Pelepas, Malaysia. The Singapore company that owns the ship declined to comment.
The third tanker, the Pacific Martina, chartered by Shell, loaded 60,000 tons of jet fuel from the port of Vadinar, also on July 18. Since then, the vessel has been sailing aimlessly in the Gulf of Oman, and according to information from “Reuters“ no buyer has yet been found for the cargo. From Shell have also not given an official comment.
The case shows how international sanctions can paralyze trade in energy resources, even when it is not formally subject to direct restrictions.