Nayara seeks new bank amid EU curbs

Mumbai-based oil refiner Nayara Energy Ltd, part-owned by Russian energy giant Rosneft PJSC, has asked government officials to broker a relationship with a domestic lender such as UCO Bank Ltd after EU sanctions prompted greater caution among larger banks, according to people familiar with the matter.

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Executives at Nayara held talks with officials from the finance ministry last week, the people said, asking not to be identified because discussions are private.