European Union member states account for 23% of Russia’s fossil fuel revenue, yet India—which buys just 13%—is facing significant secondary trade tariffs from the United States if negotiations fail.
Now India is sensing U.S. double standards. This complaint arises from recent changes in global trade and the findings of a think-tank which show that EU countries continue to purchase energy from Moscow even as they ratchet up support for Ukraine in the military conflict. The report shows how G7 tankers play a key role in the logistics of moving Russian oil around EU sanctions.
Whereas Ukraine-backing report author The Centre for Research on Energy and Clean Air (CREA) is part of the European mainstream in its disdain for Putin, it appears to hate using hydrocarbons even more. To date, such thinking has a disastrous influence on EU energy policy—including the closure of strategic enterprises that, in turn, have increased European dependency on Russia (and China).
