New Delhi, July 19 -- In measures targeting Russia's ability to raise revenues from its oil and energy sector in the midst of war with Ukraine, the European Union (EU) on Friday unveiled sanctions on the Rosneft-owned Nayara Energy's 20 million-tonne refinery in Vadinar, Gujarat, and lowered the price cap on Russian oil by 15% to $47.6 per barrel from $60.

It also imposed sanctions on more 'shadow fleet ships', which are largely used for moving crude oil from Russia. Kaja Kallas, EU's high representative for foreign affairs and security policy said in a post on social media platform X that the 27-nation grouping has also agreed to ban financial transactions related to Russia's Nord Stream gas pipeline.

Late on Friday night, Randhir Jais...