This is why I knew these sanctions wouldn’t of done anything. If anything it’s hurting the consumer because traders are buying up the crude oil futures and everybody suffers at the pumps.
But the non sanctioned countries buys the oil and they resell to a sanctioned country with Russia. Makes pretty much no sense.
Like putting money in one pocket and out the other. They need to sanction all the countries for this to work.
Topic: LMAO: India resells Russian oil to the European Union. - page 6. (Read 852 times)
I had already mentioned about it a few days back:
This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.
Being a resident of India, I would say that this is true. Although I don't have accurate figures for import of LNG from Russia, various media sources have published the volume of imports of crude oil from that country.
Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms
As per TOI, this is how the crude oil imports from Russia have zoomed up:
March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day
If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.
Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms
As per TOI, this is how the crude oil imports from Russia have zoomed up:
March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day
If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.
This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.
Suddenly rise of importation, its a money machine for India. If Russia intends to help his allies, this is the kind of help that will help India. The whole India benefits from it, with gas supply, the prices of goods will not spike high.
This is a rising country that is just starting its growth, speculated to become superpower as well. Will Russia be upset about it if its true that they resell to EU? Its pretty much a business after all.
I had already mentioned about it a few days back:
This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.
Being a resident of India, I would say that this is true. Although I don't have accurate figures for import of LNG from Russia, various media sources have published the volume of imports of crude oil from that country.
Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms
As per TOI, this is how the crude oil imports from Russia have zoomed up:
March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day
If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.
Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms
As per TOI, this is how the crude oil imports from Russia have zoomed up:
March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day
If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.
This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.
India deny it though,
https://www.thehindu.com/news/national/india-is-not-a-conduit-for-russian-oil-sales-jaishankar/article65491475.ece
But we really don't know who is saying the truth here. India is playing their cards very well here and it's up to us to who really believed or who to side in this story. And let's see if US is going to sanction India or it is just a empty threat as we all know that the US-India relationship as far as political and non-political interests are.
Quote
“There’s an enormous shortage of oil...Getting access to oil is difficult. A country like India would be crazy to get oil from somebody and sell it to somebody else. This is nonsense,” he said when asked about the reports at the ‘GlobeSec Bratislava Forum’ conference in the Slovak Republic on Friday.
https://www.thehindu.com/news/national/india-is-not-a-conduit-for-russian-oil-sales-jaishankar/article65491475.ece
But we really don't know who is saying the truth here. India is playing their cards very well here and it's up to us to who really believed or who to side in this story. And let's see if US is going to sanction India or it is just a empty threat as we all know that the US-India relationship as far as political and non-political interests are.
This is the reason, or at least one of the many reasons to never trust politics, politicians or other business crooks, who hide their real intentions behind a poisonous smile. None of them care about morality in the slightest. Don't be fooled.
India is just doing the same as EU has been doing since the EU even came into existence. Chipping away at morality for the sake of money and power...
India is just doing the same as EU has been doing since the EU even came into existence. Chipping away at morality for the sake of money and power...
well, it just shows who is the smart one in this market. lol for sure, india is just laughing at this situation and they are gaining a lot from this war situation. we can't blame them, this is a good opportunity for them and they grabbed it, why not? after all, business is business.
politics will always play a role in this humanity. and if they can gain from it, they will go for it. it is a matter of survival also.
This is the reason, or at least one of the many reasons to never trust politics, politicians or other business crooks, who hide their real intentions behind a poisonous smile. None of them care about morality in the slightest. Don't be fooled.
India is just doing the same as EU has been doing since the EU even came into existence. Chipping away at morality for the sake of money and power...
India is just doing the same as EU has been doing since the EU even came into existence. Chipping away at morality for the sake of money and power...
Quote
which buys at below market price, refines and sells
India has very few oil reserves like China, two of the worlds most populated countries but they do intend to have refining capability and have built alot of assets on that basis. They need to process oil to justify the cost of those operations while having little oil and with elevated market prices probably not creating much opportunity. They might fall in line later on but Im not sure if they are allied with Russia or not, seems they are not from last Ive read on it. Pakistan changed leader after appearing to back Putin, the government dismissed the prime minster though that too is disputed no doubt.
Eh, they are still going to buy it until OPEC countries ramp up their production. Europe still needs oil, and even though it looks like Russia is going around these sanctions, at the end of the day demand will still make EU buy these things since they are relatively cheaper and easier to get. They can express their disappointment all they want but in the end it's still just business for India and Russia. The West can be petty about it but India needs to profit, and they need the oil and they get it.
This is old news but the U.S. was very upset about India buying oil from Russia. In fact, the U.S. believed it was bestowed upon them to dictate the bilateral trades of other countries and complicate them with their own internal political turmoil. Seems very arrogant.
https://www.independent.co.uk/news/world/americas/us-politics/russia-india-oil-deal-us-psaki-b2036822.html
I don't think anything came out of the ordeal, other than some words critical of India's purchasing habits with Russia.
If this story is legitimate -- then good for India. They have an obligation to their billions of people to fuel their energy needs and grow their economy.
https://www.independent.co.uk/news/world/americas/us-politics/russia-india-oil-deal-us-psaki-b2036822.html
I don't think anything came out of the ordeal, other than some words critical of India's purchasing habits with Russia.
If this story is legitimate -- then good for India. They have an obligation to their billions of people to fuel their energy needs and grow their economy.
Indians are making money, Russians are making money, Europeans getting robbed and still buying the Russian gas.
Brilliant scheme.
Lmao What happened to Europe’s unicorn fart powered windmills anyway? I thought oil/gas was outdated… What happened to WEF’s push for zero carbon footprint?
Brilliant scheme.
Lmao What happened to Europe’s unicorn fart powered windmills anyway? I thought oil/gas was outdated… What happened to WEF’s push for zero carbon footprint?
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I first saw this in a Spanish forum, but I see that a national newspaper in Spain has brought it out.
https://www.elmundo.es/economia/macroeconomia/2022/06/04/629a1c44e4d4d8fb2a8b460d.html
In English:
https://www.marketwatch.com/story/why-india-is-set-to-win-big-as-eu-bans-russian-oil-imports-11654021874
India is receiving 600,000 barrels per day from Russia compared to 90,000 barrels per day last year, which buys at below market price, refines and sells at a higher price to Europe. What a masterstroke by the European Union, LMAO.
Nobody thought of this? Last Friday the EU adopted sanctions banning oil imports from Russia.
https://thehill.com/policy/energy-environment/3511129-eu-officially-adopts-russian-oil-embargo/
Once this has come to light, what are they going to do? Not buy from India? It reminds me of exchanges or other entities that don't want tainted coins.
I put this comment here because I think it is the key to the issue:
So India claims that what it sells to the EU does not come from Russia, the EU claims that what it buys does not come from Russia, when most likely at least some of what it buys from India comes from Russia, and more expensively. LMAO.
https://www.elmundo.es/economia/macroeconomia/2022/06/04/629a1c44e4d4d8fb2a8b460d.html
In English:
https://www.marketwatch.com/story/why-india-is-set-to-win-big-as-eu-bans-russian-oil-imports-11654021874
India is receiving 600,000 barrels per day from Russia compared to 90,000 barrels per day last year, which buys at below market price, refines and sells at a higher price to Europe. What a masterstroke by the European Union, LMAO.
Nobody thought of this? Last Friday the EU adopted sanctions banning oil imports from Russia.
https://thehill.com/policy/energy-environment/3511129-eu-officially-adopts-russian-oil-embargo/
Once this has come to light, what are they going to do? Not buy from India? It reminds me of exchanges or other entities that don't want tainted coins.
I put this comment here because I think it is the key to the issue:
Once the oil is refined in to diesel, it will be impossible to know about it's origin. And here, the situation is further complicated by the fact that the two oil companies who have purchased huge amounts of oil recently (Nayara Energy and Reliance Industries) also import a lot of oil from Iraq and Saudi Arabia. So they can always claim that the diesel they sell to the EU is sourced from Iraqi crude. After all, it is same substance with the same chemical composition coming from different oil wells. There is no 100% accurate method to find out how many molecules came from Russia, and how many came from Iraq.
So India claims that what it sells to the EU does not come from Russia, the EU claims that what it buys does not come from Russia, when most likely at least some of what it buys from India comes from Russia, and more expensively. LMAO.
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