Quote from: Sithara007 on Today at 02:08:17 AM

I had already mentioned about it a few days back:

Quote from: Sithara007 on May 31, 2022, 03:14:08 PM

Being a resident of India, I would say that this is true. Although I don't have accurate figures for import of LNG from Russia, various media sources have published the volume of imports of crude oil from that country.

Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms

As per TOI, this is how the crude oil imports from Russia have zoomed up:

March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day

If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.

This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.

Suddenly rise of importation, its a money machine for India. If Russia intends to help his allies, this is the kind of help that will help India. The whole India benefits from it, with gas supply, the prices of goods will not spike high.

This is a rising country that is just starting its growth, speculated to become superpower as well. Will Russia be upset about it if its true that they resell to EU? Its pretty much a business after all.