Survey: India Buying Up Inexpensive Sanctioned Russian Oil & Selling it to US/EU at Huge Profits

All while Americans and Europeans are being forced to spend record prices for gasoline as “the cost of standing up for freedom. “

India is buying up cheap sanctioned Russian oil, refining it, then marketing it to the US plus EU for huge profits, according to a report in the Wall Street Journal.

The united states has reluctantly given India permission to buy Russian essential oil because India has threatened to ditch their connections with the America and fically with China if the US dares to sanction them.

While Americans and Europeans are being required to pay  record costs   for gasoline as  “ the price of standing up for freedom, ”   the free of charge nation of India will be buying oil from Russian federation for a whopping $35 off a barrel and marketing it back to us within a hilarious arbitrage scheme.

From  WSJ, “ Russian Oil Suppliers Stay One Step In front of Sanctions” :

Europe simply targeted Russian crude with its toughest sanctions yet, but shippers and refiners are getting the oil to market by obscuring its origins. A few fuels believed to be partially created from Russian crude landed in New York and New Jersey final 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 information, Refinitiv data and evaluation by Helsinki-based think tank Centre for Research upon Energy and Clean Air.

[…]  [India’s] imports have skyrocketed in order to 800, 000 barrels a day since the war began, in contrast to 30, 000 barrels each day previously , according to commodity-markets data company Kpler.

[…] A refinery owned by Indian energy giant Reliability Industries Ltd. bought seven times more Russian crude in May, compared with prewar ranges, making up a fifth of its total intake, according to Kpler.

Reliability chartered an oil tanker to carry a cargo of alkylate, a gasoline element, departing from the nearby Sikka port on April 21 without a planned destination. 3 days later, it up-to-date its records with a Oughout. S. port and traveled the world over, discharging its packages on May 22 within New York.

“ What most likely happened was Reliance got on a discounted cargo associated with Russian crude, refined it and then sold the product for the short-term market where this found a U. S i9000. buyer, ”   said Lauri Myllyvirta, lead analyst at the Centre regarding Research on Energy plus Clean Air. […]

Dependence didn’t respond to a request comment. Its joint key financial officer, Srikanth Venkatachari, said in a May six briefing that the company provides minimized feedstock cost by sourcing “ arbitrage barrels. ”

Indian refined oil-product exports, beefed up by cheap Russian supplies, have grown sharply since the beginning of the war.   Daily shipments to Europe have risen with a third and by 43% towards the U. S. on a quarterly basis.

We are truly the particular suckers of the world.


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