Russia-backed Indian refiner Nayara Energy has replaced its chief executive following European Union sanctions targeting the company.
At a board meeting held on Wednesday, the Mumbai-based firm appointed Sergey Denisov, a long-time company executive, as its new CEO. He succeeds Alessandro des Dorides, who resigned in the wake of the EU measures, News.Az reports, citing Reuters.
Denisov, who has been with Nayara since 2017, steps in amid growing regulatory pressure due to the company’s partial ownership by Russian oil major Rosneft.
Des Dorides had joined Nayara in April 2024. Neither Nayara Energy nor des Dorides immediately responded to requests for comment.
The company has publicly condemned the EU sanctions, calling them "unjust and unilateral." The Indian government has also voiced its disapproval of the bloc’s move, reiterating that it does not support sanctions imposed outside of the United Nations framework.
Nayara operates one of India’s largest refineries and is a key player in the country’s fuel distribution network.
