New Delhi: The Government of India has allowed Russia-backed Nayara Energy to use four foreign-flagged ships for coastal transportation of fuels such as petrol and diesel, easing domestic supply challenges. However, the company’s overseas trade beyond Russia remains stalled due to unavailable banking channels. Efforts are ongoing to resolve the stalled dollar transactions, while domestic supply issues are being managed through rupee payments. The Directorate General of Shipping has approved t...Read More

Ahmedabad: Nayara Energy, an Indian refinery backed by Russia’s Rosneft, has taken Microsoft Corp to court after the tech giant suspended essential services to the company’s Vadinar refinery in Gujarat, following European Union sanctions targeting Russian energy interests. In a statement issued on Monday, Nayara said Microsoft is blocking its access to its own data, proprietary tools, and software products, despite these being secured through fully paid licences. “This decision, based en...Read More