It is to laugh.
Posted on 06/09/2022 9:15:00 AM PDT by fireman15
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.
From WSJ, "Russian Oil Producers Stay One Step Ahead of Sanctions": Europe just targeted Russian crude with its toughest sanctions yet, but shippers and refiners are getting the oil to market by obscuring its origins. Some fuels believed to be partially made from Russian crude landed in New York and New Jersey last month.
The cargoes were brought through the Suez Canal and across the Atlantic from Indian refineries, which have been big buyers of Russian oil, according to shipping records, Refinitiv data and analysis by Helsinki-based think tank Centre for Research on Energy and Clean Air.
[...] [India's] imports have skyrocketed to 800,000 barrels a day since the war began, compared with 30,000 barrels a day previously, according to commodity-markets data company Kpler.
(Excerpt) Read more at informationliberation.com ...
The original source of the info is a paywalled WSJ story.
https://www.wsj.com/articles/russian-oil-producers-stay-one-step-ahead-of-sanctions-11654076614
As the South Asian/Canadian comedian Russell Peters said: Indians can not resist a deal, and Chinese can not give you a deal.
It is to laugh.
Thanks!
@800K barrels per day, That's $28 million -- per day!
They love Joe Biden!
Economics seems to be the key in collapsing this evil, corrupt empire, so although painful this is ultimately a good thing. Buck up folks, and find a comfy spot on the sofa. Watch the show.
My cousin trades Forex and has nearly tripled his money in a long trade on the ruble vs euro. He thinks it could double again.
de nada
Some popcorn for you, in that link. :)
They love Joe Biden!
Does anyone else wonder what the “big guy's” cut is? The Democrats never let a huge transfer of funds from US consumers to someone else go to waste. This entire political dog and pony show in the Ukraine is a distraction and a source of funds for Soros, the Democrats, and who knows how many other bit players. The ones hosting the show are the Russians and Ukrainian leadership and they are likely profiting the most. So, what is their incentive to wrap this nonsense up?
Far more. Take a look at refining margins…$20-$30 per barrel.
So, contrary to the idea India was selling as its motive - national interest - its deals for discounted Russian oil was really about commercial profits.
They (India) are making deals that benefit their country. Can’t blame them for that.
Yes, the virtue signalling “sanctions” are really hurting the Russians! /s
For those not familiar there was an initial drop in the value of the ruble vs. the euro. This was a source of great joy for people supporting the “sanctions”. The joy lasted for approximately one month. In the next month the drop was completely erased. Two weeks later, the value of the ruble had gone back up to the point that it was more valuable vs euros than it had been since 2015. Uh, oh!!!
Russian profits on exports from everything from oil and gas to food and fertilizer have been spiking in a way that not even they could have predicted. Money is literally flooding into their economy. The Ukrainian adventure it the most profitable endeavor that they have engaged in since the cold war ended. Mostly thanks to the virtue signaling “sanctions” that have now completely backfired.
But what else should we expect from any Biden led initiative other than disaster. He has sure taught those nasty commies a lesson. Think of the sugar plum fairies dancing around in Kim Jong-un’s fat head, and Xi Jinping... what is he now hoping to gain from Western “punishment”.
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