India's Essar seeks to raise loans from traders as banks fear Russian links

India's Essar seeks to raise loans from traders as banks fear Russian links

An oil refinery of Essar Oil, which runs India's second biggest private sector refinery, is pictured in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo

Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia.

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