The EU's recent 18th sanctions package against Russia has begun to disrupt fuel exports from Indian refiner Nayara Energy, a major customer of Russian crude, leading to altered payment terms and canceled tanker bookings.

The European Union and Britain are ramping up pressure on Russia over its war on Ukraine. The EU has introduced new sanctions to deprive Moscow of energy revenue through a lower oil price cap and a ban on transactions with Nord Stream gas pipelines.

These measures are set to isolate Nayara from the European distillate market within a transition period of a few months.

By Nidhi Verma, Mohi Narayan and Trixie Yap NEW DELHI/SINGAPORE (Reuters) -Indian private refiners that have leveraged cheap Russian crude to boost margins will be forced to find workarounds and rely more on traders to find new markets for their products after the latest round of European Union sanctions,

The European Union on Friday reached an agreement to impose its 18th round of sanctions against Russia over its war in Ukraine after Slovakia ended its protest.

Slovakia accepted guarantees from the European Union’s executive arm to limit the fallout from a planned cutoff of Russian gas supplies and, in exchange, will lift its veto on the bloc’s 18th sanctions package against Moscow.

The EU's latest round of sanctions against Russia, adopted last Friday, are set to create significant ripples in the global diesel market.

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