New Delhi, July 25 -- A week after the European Union announced sanctions on Russia's Rosneft-backed Nayara Energy Ltd's Gujarat refinery, its chief executive Alessandro des Dorides has resigned.

Nayara has appointed its chief development officer Sergey Denisov as its new CEO, said two people in the know of the developments.

On 18 July, targeting Russia's ability to raise oil and energy revenues as it wages a prolonged war with Ukraine, the EU unveiled sanctions on Nayara's 20-million tonne refinery in Vadinar, Gujarat.

Desinov's would now have to implement Nayara's investment plans in India.

Per his LinkedIn account, as Nayara's chief development officer Desinov "led cutting-edge Vadinar refinery major projects, more than $1bn (are) ...