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India's fuel exports face EU sanction risk amid West Asia oil crisis
The bloc's proposal on barring imports of diesel, gasoline & jet fuel derived from Russian crude oil in refineries is of concern because it does not require US or G7's cooperation for implementation
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S Dinakar New Delhi
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The conflict in West Asia and its impact on crude oil prices is taking attention away from Europe planning fresh Russian sanction measures, which like the European Union 's carbon tax on imports threaten to hurt India's $63 billion in annual petroleum product exports, according to industry sources and Customs and shipping data. Fuel exports constituted 14 per cent of India's total exports in FY25, according to calculations based on Customs data. Overall petroleum product exports were as high as $84.1 billion in FY24.
The European Union (EU) proposal to bar imports of diesel, gasoline and jet fuel derived
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