2023-04-21 06:29:00
“Increasing imports of petroleum products by Western countries undermines sanctions once morest Russia”
China, India, the United Arab Emirates, Turkey and Singapore “launder” Russian oil and resell it to the West. These data were revealed by a report from the Center for Research on Energy and Clean air (CREA) published this Thursday and taken over by Forbes.
These countries have thus increased their imports of Russian crude since the invasion of Ukraine, but also their exports of refined products derived from this oil.
In the year following Russia’s invasion of Ukraine, the five laundering countries increased maritime imports of Russian crude oil by 140% over the previous year, according to CREA. They absorb 70% of Russia’s crude oil exports.
At the same time, they increased their exports of petroleum products by 26% to the countries of the coalition where prices are capped. The EU is the largest importer of these refined products, according to CREA, followed by Australia. And most of the laundered products travel on European ships.
“The EU, G7 and Australia continue to import Russian fossil fuels in the form of refined petroleum products from third countries and allow transport on their ships and insurance,” according to Isaac Levi, energy analyst and co-author of the report.
According to Lauri Myllyvirta, lead analyst and co-author of the report, “increased imports of petroleum products from major importers of Russian crude oil are undermining oil sanctions once morest Russia.”
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