The Indians import heavily discounted Russian oil, relabel it and export it to Europe and probably the US who pay market price. The Russians are making a fortune and selling all the oil, gas and coal they can extract.
““This massive inflow of hard currency means there is abundant liquidity and thus low interest rates, which keep Russia’s finances more stable even as its economy deteriorates,” he said.”
India, ALONE, is importing 40%, up from 2%, of what Russia had been exporting to Europe. I suspect China is doing the same, if not more, as they’re FILLING their reserves instead of emptying them, as the Neocon-run countries are doing.