New Delhi, July 30 -- Indian oil refiners face potential major disruption to their European exports following the European Union's implementation of its 18th sanctions package against Russia on July 18, according to a new report by ICRA.

The sanctions package includes a comprehensive import ban on refined petroleum products manufactured from Russian crude oil by third countries, with notable exceptions for Canada, Norway, the United States, the United Kingdom, and Switzerland.

The measures directly impact countries including India, Turkey, and the United Arab Emirates, which have emerged as significant processors of discounted Russian crude oil and major suppliers of refined products to European markets in recent years.

Indian refiners...