Morning Digest | India leads ‘Laundromat’ countries buying Russian crude, selling refined products to Europe; U.S. projected to hit debt ceiling as soon as June 1, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

India leads ‘Laundromat’ countries buying Russian crude and selling oil products to Europe: report

India leads five countries named as the “Laundromat” countries that buy Russian oil and sell processed products to European countries, thus sidestepping European sanctions against Russia, says a Helsinki-based group that cited the latest figures for the first quarter of 2023. The report accused Indian sellers and European buyers of possibly “circumventing sanctions” by selling crude products from a refinery in Gujarat that is co-owned by Russian oil company Rosneft.

Yellen says U.S. could hit debt ceiling as soon as June 1

Treasury Secretary Janet Yellen notified Congress on May 1 that the U.S. is projected to reach its debt limit as early as June 1, if the body does not raise or suspend the debt limit before then. While Russia's invasion of Ukraine remains a burden on U.S. economic growth, Treasury officials say the debate over the debt ceiling poses the greatest risk to the U.S. financial position.

Inaugural ASEAN-India maritime exercise in South China Sea from May 2-8

In a further step, in the expanding India-ASEAN (Association of South East Asian Nations) military cooperation, the maiden ASEAN-India Maritime Exercise (AIME) is set to begin on May 2 with war games in South China Sea.  Navy Chief Adm. R. Hari Kumar is in Singapore for the exercise as well as to take part in the International Maritime Defence Exhibition (IMDEX-23) and International Maritime Security Conference (IMSC) being hosted by Singapore.

U.P. urban local body polls: India’s border with Nepal to be sealed Tuesday