Posted on 01/23/2025 4:58:37 AM PST by dennisw
“If there’s a 30 percent discount, the Russians are putting a ribbon around it and sending it to us free," India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri said last month.
And that's turning into a very lucrative win for India, as New Delhi's traders have been able to secure supplies at a substantial markdown.
Russia is selling hundreds of millions of barrels of crude oil to India — but instead of the dollars and euros the Kremlin needs to plug holes in its budget, it's earning mountains of rupees that are proving hard to spend.
So far this year, India has already bought more than half a billion barrels of crude, an almost tenfold increase since 2021, the year before the war, according to statistics collected by analytics firm Kpler. As a result, an estimated $1 billion worth of rupees is landing in Moscow's coffers each month.
Over the weekend, Russian Foreign Minister Sergey Lavrov acknowledged the dilemma. “We've accumulated many billions of rupees that we haven't yet found a use for," he said during a press conference following the G20 summit in New Delhi.
The Indian currency is only partly convertible; New Delhi needs to give approval for larger transactions, and so far it's not doing that for its oil spending. Instead, India has reportedly offered an unconventional solution — reinvesting rupees into its own economy.
It's a knock-on effect of the oil price limits and other sanctions aimed at punishing Russia for its invasion of Ukraine. The G7 and the EU have imposed a $60 per barrel price cap on Russian crude sales; Moscow best to dodge those restrictions, but with markets in the U.S. and most of the EU off limits, Russia is being forced to make unorthodox deals to keep oil revenues flowing.
(Excerpt) Read more at politico.eu ...
First China screwing over the Russians and now India...Putin makes it easy for them.
I see the all left, all the time, old stream media is coalescing around a story that the Putin economy is faltering, Russia is ready to fall (and those sweet, sweet resources will save our green agenda); It will only take a few billion more, with the ruination of any chance at future peace, to knock Russia down and take their things and distribute them across the world.
Currently India is buying 20% more Russian oil than China is.
Russia is jammed into selling its oil no matter what. Due to its oil extraction fields that are in very cold regions.... That when the oil is lifted it has water content. Water that will freeze to burst valves and pipes and other oil infrastructure/ The only solution is to keep Russian crude moving so it does not freeze. Russia has to move that oil at any price they can get... Or their oil fields will be freeze wrecked all over again.
In fact this happened in the 1990s when Russia was in chaos with oil field neglected. Russia was forced to bring in European experts and European oil companies to repair the extensive freeze damage. It took 20 years to repair and clean up this mess.
This time around the Europeans will not be helping out the Russians.
It’s made even more funny because a few years back Putin came up with the brilliant idea of insisting on Europe paying for stuff using the ruble instead of paying in dollars or Euros.
As if Russia even makes stuff that Europe wants to buy and Europe was that desperate.
We all got to get shot of Putin’s funny money and India observed, “that’s a good idea, but it only works for the side that ain’t desperate.”
Should Russia need money they have nukes to sell and other technology the west has been try to keep from certain countries. There is plenty of money in the middle east and no shortage of people wanting nukes and other advanced weaponry.
Perhaps the west would like to learn what happens when the rabbit has a gun.
“First China screwing over the Russians and now India...Putin makes it easy for them.”
Russians are getting a righteous screwing from India. China also is getting a steep discount on Russian crude. These two are NOT paying European prices for Putin’s crude.
Prior to Putin’s invasion, Europeans were a prime market that was paying full freight for Russian oil.
Killing Russian oil profits is reason #10, why Putin was a total moron to invade Ukraine. Putin was the only Russian who thought invading Ukraine is a master stroke of genius. Bad Vlad is bad for (oligarch) business and should die soon as possible, to the worlds’ relief.
THe country that is getting screwed is Germany with UK not far behind.
They can buy cow dung!
Your country is in the crapper and Herr Starmer is about to flush...take the log out of your eye.
Hey Donald. Buy it for pennies on the dollar and refill the SPR on the cheap.
This article from the liberal press is a bug light for zeeper! They’re swarming, crashing their heads into it and being euphoric! 😁
It’s not the first time someone misunderstood the tea leaves.
It’s an interesting story from long ago.
A quick read:
https://mused.com/stories/973/the-fatal-prophecy-the-oracle-and-the-fall-of-lydia/#:~:text=The%20oracle‘s%20response%20was%20famously,army%20and%20marched%20into%20battle
“In conclusion, the Oracle of Delphi played a pivotal role in the downfall of the Lydian Empire through its ambiguous prophecy. Croesus’ misinterpretation of the oracle’s words led him to wage a disastrous war against the Persians, resulting in Lydia’s defeat and annexation. This episode underscores the profound impact of religious and prophetic influences in ancient decision-making and highlights the precarious nature of interpreting omens and prophecies.”
“History Doesn’t Repeat Itself, but It Often Rhymes” – Mark Twain.
Yes Putin Packer, we like seeing Russia getting ripped off by India in loony, lopsided oil deals. Hurting Russia’s income, to impact Putin’s warmongering, is always a very nice sight.
Putin will start honest negotiations with Ukraine, when Rooski economy is in the crapper. Pressure from Oligarchs will play a role.
Perhaps you misunderstand.
The funny part is that zeeper take liberal propaganda as gospel truth.
For this reason, and so many others, zeeper are entertaining.
🤗
Politico.
Zeepers favorite source, besides the Daley Mail.
This is an opportunity for Trump and the US if we play things right.
“The funny part is that zeeper take liberal propaganda as gospel truth.”
Clown. You are welcome to debunk the article I posted. Give it a shot.
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