5 ms·

If we could just convince India to boycott Russian Oil as well, the regime would crumble, no ? https://www.bbc.com/news/business-65553920 https://www.bbc.com/n

• unmole 3y ago
  Russian crude is primarily procured by Nayara Energy who refine it and export it to the EU. Indian Oil and Bharat Petroleum who supply the domestic market don't buy Russian crude in significant quantities. Cutting off the third largest producer of crude in the world is going to spike prices globally. Nobody is interested in that: not the US, not the EU and certainly not India. The Saudis would love that though.
• The_Colonel 3y ago
  That's not really the intention behind the price caps. Unfortunately world is still quite dependent on Russian oil and removing it from the market would cause a significant price rise which might cause (political) problems for the western countries (and all other non-producing nations as well of course).
• SXX 3y ago
  It's actually much better already. Russia is currently getting paid for good part of oil and other natural resources in Indian rupees that are completely useless for Russia. Since February 2022 India imported products from Russia for $50+ billion - mostly oil. At the same time India export to Russian is 10 time smaller so there is massive trade difficit of $40+ billions. [0] https://www.reuters.com/world/india/india-russia-address-trade-deficit-market-access-issues-2023-04-18/ https://www.reuters.com/world/india/india-russia-address-tra... [1] Official Kremlin source in Russian: https://ria.ru/20230311/indiya-1857181972.html https://ria.ru/20230311/indiya-1857181972.html