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Russia has no shortage of oil to sell, Indian officials say they should buy up bypass the dollar in rupees

2023-01-31 H:30:23

Since the conflict between Russia Ukraine, the United States its Allies have imposed a blockade on all aspects of the Russian economy, the most important of which is Russian oil. However, as an ally of the United States in Southeast Asia, India has objected to foreign countries, saying that India can buy as much Russian oil as it can.

India will continue to buy Russian oil

Amitabh Kant, India's G20 coordinator, said that India will continue to buy as much Russian oil as it can afford, adding that India is studying the way of local currency settlement, that is, in the future, India will be able to buy Russian oil in rupees, which is a shock to US dollar hegemony.

(Putin Modi)

In fact, India never stopped buying Russian oil after western sanctions were imposed on Russia. India bought an average of 1.2 million barrels a day of Russian oil in December, up 29% November 33 times more than in 2020, data showed. In addition, Russia has now overtaken Iraq Saudi Arabia as India's largest source of oil. In addition, India has a huge market, second only to China the United States, is the third largest crude oil importer in the world. New Delhi has proved with practical actions that India does agree with the anti-Russian sanctions imposed by the United States the West.

Us has repeatedly warned India

The move follows a proposal by the US-led G7 group to replace the embargo on Russian oil with a price cap of $60 per barrel, under which energy suppliers would be denied access to Marine, insurance reinsurance services provided by Western insurers shipping companies if they ship Russian oil at prices above that. The ban is the first time in history that buyers set prices in a market the power to set prices was in the hands of sellers. Meanwhile, these buyers also harbor the "evil heart" to destroy Russia.

(G7 talks to limit Russian oil prices)

The difficulty can be imagined. Since December 5, nearly two months have passed since the United States introduced the price limit order of Russian oil. India's refusal to accept the price limit order has become an important reason for the bankruptcy of the price limit order.

Washington says the energy deal runs counter to efforts by the Biden administration its western Allies to put pressure on Russia's economy will strain ties with India. White House press Secretary Jen Psaki said India's purchase of Russian oil would violate U.S. sanctions, but India should "think carefully about to go next." India's insistence on buying Russian oil means it is supporting Russia's special military operations in Ukraine.

(Russian oil goes to India)

Apparently, India does buy the crude oil Russia, which is simply processed sold to Europe in the form of semi-finished products. India, of course, does pay attention to what the US says.

After the conflict between Russia Ukraine, India-Russia relations advanced by leaps bounds

In addition, Kant noted that India's relations with Russia have changed. Indeed, over the past 75 years, India Russia have been developing cooperation, in 2022 they broke all previous records in their business trade relations, with India significantly increasing its energy imports Russia supplying Russia with a wide range of products in return.

(Russia-Ukraine conflict -- Russian Troops clean up the battlefield after the war)

The rapid development of India-Russia relations is closely related to the conflict between Russia Ukraine. Since the conflict between Russia Ukraine, India has chosen a side before the United States, the West Russia. Instead, it has "provided help" to Russia, contributing to the "rapid warming" of India-Russia relations. Just as Indian Foreign Minister Susanathan said, without Russian spare parts, our planes cannot fly our ships cannot sail. So India's dependence on Russia shows that India Russia are good friends, the US cannot break them up.

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