The European Union and Britain are ramping up pressure on Russia over its war on Ukraine. The EU has introduced new sanctions to deprive Moscow of energy revenue through a lower oil price cap and a ban on transactions with Nord Stream gas pipelines.

By Nidhi Verma, Mohi Narayan and Trixie Yap NEW DELHI/SINGAPORE (Reuters) -Indian private refiners that have leveraged cheap Russian crude to boost margins will be forced to find workarounds and rely more on traders to find new markets for their products after the latest round of European Union sanctions,

The European Union on Friday reached an agreement to impose its 18th round of sanctions against Russia over its war in Ukraine after Slovakia ended its protest.

Moscow targets law enforcement, tribunal organizers, and asset seizure advocates in latest response - Anadolu Ajansı

Russia-backed Indian refiner Nayara Energy on Monday condemned the European Union's sanctions on it and said it was exploring legal options against the latest "restrictive measures".

Hungary has announced progress on a new pipeline with Serbia to transport Russian oil. Foreign Minister Peter Szijjarto said the project is “moving forward” and vowed to defy Brussels’ efforts to cut Budapest off from Russian energy.

Chinese Foreign Ministry and Ministry of Commerce (MOFCOM) on Monday slammed EU sanctions involving Chinese banks and companies over Russia, and vowed to safeguard legitimate rights with necessary actions.

Nayara Energy, an Indian refiner part-owned by Russia's Rosneft and newly sanctioned by the European Union, has revised payment terms to sell a spot naphtha cargo in a tender issued on Monday, according to a document seen by Reuters.