Business & Economy

India's Stance on Refined Oil Could Promt Sanctions Relief: Expert

© Photo : Twitter/ @DrSJaishankarIndian officials meet with with EU HR VP Josep Borrell
Indian officials meet with with EU HR VP Josep Borrell
 - Sputnik India, 1920, 17.05.2023
India's EAM S. Jaishankar on Wednesday rubbished claims of EU foreign policy chief Josep Borrell that New Delhi was violating anti-Russia sanctions by selling fuel produced with Russian oil to the bloc.
Delhi's reply to Borrell's claims about refined oil show that India won't bow to EU demands, while Europeans themselves could ease the sanctions regime against Russia, Konstantin Ordov, a professor at Plekhanov Russian Academy of Economics, told Sputnik.
"I believe that India is simply not interested in succumbing to demands that clearly work only in the interests of one side," the expert shared.

"A more independent behavior of nations like India and all others will lead to the fact that in the second half of this year, the Europeans will be forced to start discussing the issue of lifting sanctions," Ordov explained. They also have no other options purely out of economic reasons. Especially in the case of a projected financial crisis during [this] quarter, and in this the probability [of sanctions relief] is high."

In his opinion, Borrell is well aware of the fact that due to vivid Indo-Russian cooperation, European entrepreneurs "remain somewhere overboard," and therefore the head of EU diplomacy has taken such a position in relation to India.
India's Minister for External Affairs S. Jaishankar addresses the media during a press conference on the EU-India Trade and Technology Council at EU headquarters in Brussels, Belgium, Tuesday, May 16, 2023. - Sputnik India, 1920, 17.05.2023
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