Borrell insists on blocking the import of Indian fuel produced from Russian oil.

Wednesday, May 17, 2023
Borrell insists on blocking the import of Indian fuel produced from Russian oil.

In an interview with the FT, the EU High Representative for Foreign Policy, Josep Borrell, called such supplies circumventing sanctions, and the EU member states should take measures.

Last year India became the largest buyer of Russian oil, which Western countries refused to purchase due to sanctions against Russia. Access to cheap Russian oil increased production and profits for Indian refineries, allowing them to export petroleum products to the EU and capture a large market share.

Before Russia invaded Ukraine, India used to export an average of 154,000 barrels per day of diesel and jet fuel to the EU, but this figure increased to 200,000 barrels after the EU banned the import of Russian oil products.

“Therefore, the national authorities must implement every necessary mechanism to stop the flow of Russian oil“, Borrell said. To do this, the EU can target buyers of Indian refined fuel, likely to be derived from Russian oil.

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