India's $15 Billion Petroleum Exports to EU at Risk Amid New Sanctions
India's petroleum exports, worth USD 15 billion to the EU, are threatened as Brussels plans to restrict imports of refined Russian crude oil via third countries. This move, part of the EU's 18th sanctions package, aims to curb Russian oil revenues, affecting nations like India, which refine and export Russian crude.
- Country:
- India
India's lucrative petroleum exports, valued at USD 15 billion, face uncertainty as the European Union plans to halt imports of refined products derived from Russian crude.
This decision is part of the EU's 18th round of sanctions targeting Russia's oil sector, aimed at limiting Moscow's energy revenues.
Nations such as India, which refine Russian crude into diesel, petrol, and jet fuel, may suffer substantial economic repercussions due to their exclusion from the EU market.
(With inputs from agencies.)
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- India
- petroleum
- exports
- EU
- Russian crude
- sanctions
- GTRI
- Ajay Srivastava
- energy sector
- trade
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