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After the removal of Iraq.. The European Union calls for strict measures against India's imports
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2023-05-16 01:47
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Shafaq News/ The European Union's High Representative for Foreign Policy, Josep Borrell, said, "The European Union must take strict measures against India, which resells Russian oil to Europe as refined fuel, including diesel."
India's imports of Russian crude rose in March for the seventh consecutive month, ending the fiscal year as India's largest supplier, displacing Iraq for the first time, which was rejected by Western countries amid sanctions against Russia for its invasion of Ukraine in February 2022.
India's imports of crude oil from Russia rose to a new high of 1.8 million barrels per day in April, double its purchases from Iraq, India's previously biggest traditional oil supplier.
Access to cheap Russian crude has increased production and profits at Indian refineries, enabling them to competitively export refined products to Europe and gain a larger market share.
Borrell said, "If diesel or gasoline enters Europe (...) coming from India and is produced with Russian oil, this is definitely a circumvention of sanctions and member states must take action."
Borrell said, "For India to buy Russian oil, this is normal, but if they use that in order to be a center where they refine Russian oil and sell us by-products, then we have to move."
India used to export an average of 154 thousand barrels per day of diesel and jet fuel to Europe before the Russian invasion of Ukraine. However, that rose to 200,000 bpd after the European Union banned imports of Russian oil products from February 5 this year.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-05-16 01:47
Share
Font
Shafaq News/ The European Union's High Representative for Foreign Policy, Josep Borrell, said, "The European Union must take strict measures against India, which resells Russian oil to Europe as refined fuel, including diesel."
India's imports of Russian crude rose in March for the seventh consecutive month, ending the fiscal year as India's largest supplier, displacing Iraq for the first time, which was rejected by Western countries amid sanctions against Russia for its invasion of Ukraine in February 2022.
India's imports of crude oil from Russia rose to a new high of 1.8 million barrels per day in April, double its purchases from Iraq, India's previously biggest traditional oil supplier.
Access to cheap Russian crude has increased production and profits at Indian refineries, enabling them to competitively export refined products to Europe and gain a larger market share.
Borrell said, "If diesel or gasoline enters Europe (...) coming from India and is produced with Russian oil, this is definitely a circumvention of sanctions and member states must take action."
Borrell said, "For India to buy Russian oil, this is normal, but if they use that in order to be a center where they refine Russian oil and sell us by-products, then we have to move."
India used to export an average of 154 thousand barrels per day of diesel and jet fuel to Europe before the Russian invasion of Ukraine. However, that rose to 200,000 bpd after the European Union banned imports of Russian oil products from February 5 this year.
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