2 MAY ,2023
India leads in ‘laundering’ Russian oil and selling to Europe: report (PG 11)(GS 2)
2 MAY ,2023
•India leads five countries named as the “Laundromat” countries that buy Russian oil and sell processed products to European countries, thus sidestepping European sanctions against Russia, says a Finlandbased group that cited the latest figures for the first quarter of 2023.
The report, released last week, coincides with the latest data from analytics firm Kpler and a report by international agency Bloomberg that showed how European Union (EU) countries, which are all part of the “price cap coalition” that bars trade and insurance for any oil purchased above a certain price from Russia, are in fact increasing their intake of oil from India, China, Turkey, the UAE and Singapore