India has become the EU's top supplier of refined oil products, exploiting a loophole in EU sanctions against Russia and benefiting from discounted Russian crude oil.
India ’s fuel exports to Europe have soared this year to make India the biggest exporter of refined oil products to the EU as India n refiners are capitalizing on a loophole in the EU sanctions against Russia, Finland-based Centre for Research on Energy and Clean Air CREA said in its monthly analysis. Russia has now become India ’s single largest crude oil supplier.
During the first nine months of the year, exports to the EU from the Jamnagar, Vadinar, and new Mangalore refineries in India — which are increasingly reliant on Russian crude — jumped by 58% compared to the same period of 2023, according to data collected by the CREA. The surge in EU imports of fuel from India is “further amplifying the fact that EU Member States continued imports are expanding the refining loophole, and Russian revenues from crude exports to third countries,” the center said.
EU Oil Exports Russian Oil Sanctions Energy Trade Refining Geopolitical Economic Energy Security
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia's Crude Oil Exports Hit Four-Month HighRussian crude oil exports by sea continue to rise as heavy domestic refinery maintenance leaves more crude available for export
Read more »
U.S. Tightens Grip on Russia's LNG ExportsThe U.S. is stepping up efforts to curb Russia's LNG exports as part of its broader strategy to cut off funds supporting Moscow's war in Ukraine
Read more »
Thousands of pensioners to get £200 bank boost to replace Winter Fuel PaymentFuel duty hike is double blow after Winter Fuel Payment loss, says pensioner
Read more »
‘Ten minute trick’ to warm up your car WITHOUT wasting petrol on heating – you barely have to lift a finge...Fuel duty hike is double blow after Winter Fuel Payment loss, says pensioner
Read more »
Labour don’t get fuel duty hike will hammer workers – Net Zero zealotry means they want to price millions o...Fuel duty hike is double blow after Winter Fuel Payment loss, says pensioner
Read more »
I’m a pensioner & Labour’s fuel duty hike is kick in the teeth after losing Winter Fuel PaymentFuel duty hike is double blow after Winter Fuel Payment loss, says pensioner
Read more »