UCO Bank to help Nayara Energy with payments

Business Sep 15, 2025

UCO Bank just got the go-ahead from the government to handle payments for Nayara Energy after EU sanctions hit in July 2025.
With big banks like SBI pulling out, Nayara—partly owned by Russia's Rosneft—needed a new way to keep business running.
UCO Bank officials have already sat down with the finance ministry to sort out the details.

Why UCO Bank was chosen for this task

Nayara turned to the government for help finding a bank that isn't too tied up overseas, since sanctions made things tricky.
UCO Bank has experience dealing with sanctioned countries like Iran, so it knows how to manage these tough situations.
The goal: keep Nayara's imports and exports moving smoothly, even with all the financial restrictions.