India-linked refiners' fuel exports to sanctioning countries rise 43%
In short
Refineries in India and two other countries shipped 1 billion euros of oil products to sanctioning countries in September.
That was 43% more than August, according to a CREA report. The report says Reliance Industries’ Jamnagar refinery supplied most of the cargoes to EU ports, but it does not say what action, if any, will follow.
What the reporting says
Refineries in India and two other countries shipped 1 billion euros of oil products to sanctioning countries in September, up 43% from August, according to a CREA report. The summary says Reliance Industries’ Jamnagar refinery supplied six of seven cargoes unloaded at EU ports despite the bloc’s ban on fuel made from Russian crude. The report also says the EU took 667 million euros of the products, while the broader cause and enforcement response remain unclear.
Why it matters
Refineries in India, Turkiye and Brunei shipped 1 billion euros of oil products to sanctioning countries in September, according to a CREA report summarized by multiple outlets. The reporting says this was 43% above August and that Reliance Industries’ Jamnagar refinery supplied six of seven cargoes unloaded at EU ports, despite the bloc’s ban on fuel made from Russian crude. The immediate regulatory or commercial consequences are not stated.