Posted on 04/25/2014 6:45:58 AM PDT by Thistooshallpass9
Russia is changing its energy export policy vector as strong demand for hydrocarbons in both in China and in India continues to grow. The recent unease in both the U.S. and Europe over Russian President Vladimir Putin’s March 17 annexation of Crimea has only added to Moscow’s efforts to diversify its markets beyond Europe.
Now Russia and India are planning to construct a $30 billion oil pipeline through China’s restive Xinjiang province. If successful, the pipeline will be the most expensive in the world.
The groundwork for the project was laid on October 21, 2013, during Indian Prime Minister Manmohan Singh’s visit to Moscow for the 14th India-Russia Annual Summit. Singh and Putin issued a joint statement that said, “Russia and India have agreed to establish a joint group to study the possibility of direct ground transportation of hydrocarbons.”
That announcement reaffirmed the two countries’ joint commitment to implement the Agreement between the Government of the Russian Federation and the Government of the Republic of India on the Enhancement of Cooperation in Oil and Gas Sector, which was concluded on December 21, 2010.
The project has been on the drawing boards for nearly a decade, as Russia and India first began discussing it in 2005.
Four years later, in 2009, the foreign ministers of Russia, India and China agreed to enhance energy cooperation. Sergei Lavrov, S.M. Krishna and Yang Jiechi met in Bangalore to discuss energy security, the fight against terrorism and climate change. In a joint declaration, the diplomats said, “India, Russia and China are seeking to intensify international energy cooperation on a new basis to help make the energy market more open, transparent and competitive and reflect the common interests of all the parties involved.”
(Excerpt) Read more at oilprice.com ...
But, but, but, obama and his boy johnnie boy kerry have sanctions in place.
I am sure those sanctions don’t preclude leasing oil tanker rail stock from friend of dumBO, Warren Buffet.
FYI
You may already be aware of this; I was not. Powerful stuff.
There are sanctions in place. A strict ban from all LGBT bars and vegan restaurants or something like that, in a manner reminiscent of Genghis Khan.
Thanks.
Trade certainly is fungible.
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