Diarytimes Media Network, Shimla Published by : Kumud Sharma, Updated May 18, 2023 by Diary Times
Josep Borrell, the EU’s high representative for Foreign Affairs and Security Policy, called for a crackdown on imports of Indian-refined oil.
Borrell had said, “If diesel or gasoline is entering Europe through India and being produced with Russian oil, that is certainly a circumvention of sanctions and member states have to take measures.”
In contrast, German envoy Ackermann, had said, “As long as India respects the price cap imposed by Germany, we have no problem with refined oil products entering the country.”
He added, “We felt that the oil market should not be completely disrupted by the sanctions we were imposing on Russia. The decision to impose sanctions was a European decision.
However, before the sanctions, we were one of the best clients of Russian oil and gas and if oil products are now entering Germany through other sources, we have no issue with it.”
The EU is the largest importer of oil products from these countries, clocking in imports of refined fuel amounting to roughly €17.7 billion.
The CREA report found that imports of Russian crude oil by ‘laundromat’ countries increased by more than 140 percent over the past year, rising to €74.8 billion, compared to the 12-month period before the invasion.
External Affairs Minister S. Jaishankar had responded to Borrell’s remarks by asking him to refer to EU Council Regulation 833/2014.
“Look at EU Council regulations, Russian crude is substantially transformed in the third country and not treated as Russian anymore,” he said during a joint press conference with EU officials.