India’s $15 billion oil exports to EU at Risk After New Russia Sanctions
Автор: Bourse Academy
Загружено: 2025-07-20
Просмотров: 824
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The 18th package of sanctions by the 27-nation EU included a set of measures largely aimed at curbing the revenues of Russia's oil and energy sector, such as an import ban on refined petroleum products made from Russian crude oil and coming from any third country.
The Global Trade Research Initiative (GTRI) said that a central component of the package is a ban on the import of refined petroleum products made from Russian crude and exported via third countries, excluding only a select few allies like the US, UK, Canada, and Switzerland.
India exported USD 19.2 billion worth of petroleum products to the EU in FY24, but this dropped by 27.1 per cent to USD 15 billion in 2024-25, according to the think tank.
It added that India imported USD 50.3 billion of crude oil from Russia in FY2025, over a third of its total USD 143.1 billion crude bills.
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