Posted on 07/31/2025 8:15:55 AM PDT by marcusmaximus
What is Russia supposed to do with all those rupees?
This will probably drive up gas prices for the rest of the world.
Trade the rupees for Bombay curry.
Can the U.S.Pick up their needs?
More liberal groupthink, you’re blaming the wrong people. Russia committed and is still committing the original sin.
Another benefit of Trump in office, unlike Blinken the retard who torpedoed the US-Saudi alliance to kiss Iranian butt.
Try Bombay Gin.
It is very good.
Has the UK...?
Doubtful that it will affect the world markets as much as some think. Stopping oil flow through the Straits of Hormuz, however, would be disastrous for prices. It is too good a lever for bad actors, so I wouldn’t be surprised if Russia engineers a slowdown of ME oil.
This article isn’t very clear. It says state owned refineries have suspended purchases (and with only a week of history on this, that seems suspect), but rather more odd is that — being state owned — they then in the next sentence talk about requesting guidance from the gov’t for future purchases.
India consumes 5 million bpd. They produce about 800K bpd. So they must import 4.2 mbpd. Of this amount, about 2 mbpd is Russian. It varies 300K up and down various months.
The remaining 2 come from the Middle East. The measurement is generally seaborne. India has a vast network of internal crude pipelines (that 800K domestic production is very regional and so it must transport nationwide), but geography has obstructed various suggestions I can recall over the year of pipelines for crude import. And Pakistan to the west would obstruct direct import from Iran.
Trump said he had some other stuff to try on Russia. He’s giving them something to think about for their new upcoming deadline.
Trump didn’t highlight his deal with Pakistan for no reason. He’s literally willing to build an escape hatch for India.
“India Pauses Russian Crude Oil Purchases”
Explains why the price of crude is SHOOTING UP for the past week...less Russian oil, higher prices, no Russian oil, much higher prices.
Thanks for posting!
Another Trump win.
India gets 60% of its oil from Russia. That is a lot of demand that will surely drive up the price of oil, if it happens.
No, it is called basic economics. 60% of India’s oil comes from Russia. That new demand on world oil WILL drive up costs for all of us.
This is not a political statement, but basic math.
Oil futures are down 1.83 percent right now.
When most countries stopped buying Russian crude due to the Ukraine war the Russians made a deal with China and India to buy their crude at a large discount to the Brent Sea Crude price.
This meant that India was buying it for somewhere between $23-35/barrel cheaper than the market spot price. The Indians were making extra millions daily off this deal. Not only were they buying enough to meet their domestic demand they wee also refining and selling Diesel/gasoline and other distillents cheaper than other worldwide producers.
There was also potential for the Indians to broker that Russian oil by either transloading the oil to a different tanker OR blending it with crude from a non Russian source OR just changing the BOL and trying to get away with it.
When there is big profit potential people take chances.
They may even create a new company to make these trades. That company might go out of business IF they eventually get caught. Meanwhile, they can potentially make millions of profit in trading oil and just changing the paper work on its origin.
I saw something similar to this in the lumber business about twenty years ago. There was a quota then on Canadian lumber.
Companies in Canada could buy cheaper than the market FOB mill with no quota. They would then wholesale it delivered into the US under the market. Sometimes this lumber got double or triple wholesaled. This went on for a couple years. At the end there were several Canadian wholesale companies that went out of business. However, they had made a huge windfall profit in a short period of time. Some brokers literally disappeared and were never heard from again. We called them THE QUOTA CHEATERS.
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