YEREVAN, MAY 16, ARTSAKHPRESS. The EU should crack down on India reselling Russian oil as refined fuels including diesel into Europe, EU High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Josep Borrell told the Financial Times.
Borrell told the Financial Times that Brussels was aware that Indian refiners were buying large volumes of Russian crude oil before processing it into fuels for sale in Europe, saying for the first time the EU should act to stop it.
“If diesel or gasoline is entering Europe . . . coming from India and being produced with Russian oil, that is certainly a circumvention of sanctions and member states have to take measures,” Financial Times quoted Borrell as saying.
The trade is legal under EU sanctions but has been criticised by those who want to see harsher sanctions imposed on Russia and argue that it has allowed Moscow to keep earning large revenues from its oil sales.