India is Buying Up Cheap Sanctioned Russian Oil and Selling it to the U.S. and E.U. at Huge Profits
June 8, 2022
By Paul Homewood
That worked well then!!
India is buying up cheap sanctioned Russian oil, refining it, then selling it to the US and EU for huge profits, according to a report in the Wall Street Journal.
The US has reluctantly given India permission to buy Russian oil because India has threatened to ditch their alliance with America and ally with China if the US dares to sanction them.
While Americans and Europeans are being forced to pay record prices for gas as "the cost of standing up for freedom," the free nation of India is buying oil from Russia for a whopping $35 off a barrel and selling it back to us in a hilarious arbitrage scheme.
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NOT A LOT OF PEOPLE KNOW THAT 
Manmade CO2 at 0.04% of greenhouse gases does not cause global warming. FACT. Therefore there is no excuse for not using our own fossil fuel reserves and not be blackmailed.
CO2 in the troposphere interferes with
Earth’s ability to cool itself. The effect
is very strong for the first 100ppm of CO2 (0.01%)
and weak above 400ppm of CO2 (0.04%).
Your statement is misinformation.
There are benefits from rising CO2:
Warmer climates in the colder, higher latitude
nations in the Northern Hemisphere since
the 1970s, and accelerated plant growth.
Rising CO2 has been good news
for the past 47 years of global warming.
But burning fossil fuels is not always
good news — they require modern pollution
controls to keep the atmosphere clean.
CO2 emissions are a benefit of burning
fossil fuels — CO2 is not air pollution.
Who’da thunked it? Politicians: beware and be aware when you meddle with markets!
The only market forces I have ever seen at work over the last 70 years are greed and bovine stupidity.Markets have the power to make billionaires, but there is not a single billionaire alive today that can stand comparison with the Stephensons and Edward Pease. Most are petty money grubbing kulacs!
Absurd. Just because other people value things you do not doesn’t make you superior. And it’s laughable when you are posting on a website using a phone or laptop utilising superfast broadband, brought to you by markets.
There is nothing wrong with that – the goal was to deprive Putin of money, not to curse his oil.
? By buying the Russians oil at prices they set, through India who get money for nothing and then brilliantly paying vastly more for it from India and achieving nothing, other than again damaging the poor bloody taxpayer.
Brilliant.
Selling oil to India, even at that kind of discount, is still good business for Russia.
All utterly pointless when Germany spends billions a day on Russian gas whilst constantly prevaricating on providing assistance to Ukraine.
I’m shocked, not. Congratulations to the Indians for taking advantage of Western stupidity. Talking of which, I note that CF Industries have just announced the closure of their major fertiliser (and Co2) manufacturing plant in Chester due to spiralling energy costs driven by more insane Western energy policies. A closure that will, undoubtedly, impact UK agriculture, food & drink processing, medical procedures etc etc. I dare say that our shrewd friends in Mumbai will be welcoming them with open arms in due course.
TPTB (that’s WEF/NWO) are over the moon with fuel prices as it makes their dream of EVs more palatable. That said, it also deprives the hoi-polloi of the ability to travel easily or cheaply. IMHO. 🙂
Whodathunkit . . . India, a big player in world oil markets.
Agree with Mack above. Indians are clever to take advantage of business opportunity.
‘The US has reluctantly given India permission to buy Russian oil because India has threatened to ditch their alliance with America and ally with China if the US dares to sanction them.’
Cirrusly? US permission? As a ‘merican, I’m embarrassed. India can do whatever they want. They don’t need my permission!
Yes . US sanctions only apply within their jurisdiction, same goes for EU sanctions.
Every other country is free to do as it pleases. The reality is that Russian oil and refined products are essential for world economy other wise it would cause a massive price shock.
I notice now that Venezuela oil is under US sanction, Iran oil is under US sanction , now Russian oil. It mostly flows to other countries despite this and we are all lucky it does
Yes but businesses that do business with regimes the US has sanctioned cannot do business in the US. See various UK banks and Iran for example.
It’s businesses that do business, not governments.
So who’s the bad guy? This sounds like a win for India and status quo for everyone else but Russia. The sanctions are working. If anyone expected the flow and need of oil from Russia to stop you’re naive.
“India” isn’t winning. I’m sure it’s a handful of the very shrewd Indian trading houses doing this. Arbitrage like this is clevercand makes you rich, but it’s not creating wealth.
If you think Russia is suffering due to the oil embargo you are wrong. Russia is selling to India and China at massive discounts. But since the sanctions were introduced the oil price has risen so much that the price Russia receives is more than what they got before the sanctions. Russia is making more money and we in the west are paying for it.
Biden. What a leader, not!
The picture is I suspect a little more complicated. India is buying cheap Russian crude, but at the same time they will not be using so much from the Arabian Gulf, which will instead be routed to Europe and the US, creating a lot of demand for tankers to cover the inefficient distribution pattern. At the same time Russia has long had an export surplus of diesel fuel and diesel rich refinery feedstock that have been very important sources of supply to Europe and the UK. The detail of what is happening to these, especially when the EU tries to eliminate all Russian ship borne imports is unclear.
Already with LNG there us an element of transshipment in the Barents Sea to vessels with less obvious Russian links, although the regular vessels continue to supply Belgium, France, Portugal and Spain.
Well, India buys less than 10% of it’s foreign oil from Russia. What India pays Russia in one month is less than what Europe pays Russia in one evening. It’s Europe which is funding the war in Ukraine from both sides. Hypocrites.
From behind the Telegraph’s paywall…
https://archive.ph/R6Ndq
Gove and others looking to administratively hobble UK gas production – refusing planning permission for a temporary noise reduction fence around a drill site…. thereby stopping the test well.