Multiple Choice Questions on Consider the following statements with respect to Laundromat Countries These countries buy Russian o........... for UPSC Civil Services Examination (General Studies) Preparation

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Study Notes

    Consider the following statements with respect to Laundromat Countries

    1. These countries buy Russian oil and sell processed products to European countries, thus by-passing European sanctions against Russia.
    2. The laundromat countries are China, India, Turkey, the UAE and Singapore.

    Select the correct statement.

    1 only

    Incorrect Answer

    2 only

    Incorrect Answer

    Both

    Correct Answer

    None

    Incorrect Answer
    Explanation:

    Among the laundromat countries, India remained the highest global consumer of seaborne Russian crude in April.

    Laundromat Countries  

    • These are the countries that buy Russian oil and sell processed products to European countries, thus evading European sanctions against Russia.

    • The laundromat countries are China, India, Turkey, the UAE and Singapore.

    • These countries are refining larger volumes of imported Russian crude to then export refined products to sanction imposing countries.

    • This is currently a legal way of exporting oil products to countries that are imposing sanctions on Russia.

    • These countries export nearly 3.8 million tonnes of oil products to price cap coalition countries, which include the EU, G-7 countries, Australia and Japan.

    Centre for Research on Energy and Clean Air (CREA) report

    The CREA report said the most oil products were being exported from two ports in Gujarat:

    • The Sikka port that services the Reliance-owned Jamnagar refinery, and
    • The Vadinar port that ships oil products from Nayara energies.

    RIL’s Jamnagar refinery, is the biggest oil product export port to the price-cap coalition countries.

    • It is also the largest importing port in the world of seaborne crude oil from Russia.

    Hence both statements are correct.


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