The next action move .. India to bend those 2 countries following Russia? Brutal America!
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| Indian prime minister Narendra Modi |
New Delhi: India is on the verge of buying more crude oil from Russia amid the Ukraine war. Indian Oil has already signed an agreement with Hindustan Petroleum to buy additional oil from Russia.
The nations of the world are imposing severe sanctions on Russia. The United States and the West, in particular, are imposing sanctions on Russia.
The United States has even decided not to buy crude oil from Russia. It is in this context that India has decided to buy additional crude oil from Russia.
Europe did not rise
Europe still buys crude oil from Russia. But Europe has not raised its bar. Europe is trying to stay away from relying as much as possible on Russia as Europe is in conflict with Russia. But India or the US has decided to buy more oil from Russia without worrying about Europe.85
Where to buy more
India imports 85 per cent of its total oil needs from abroad. Of this, Iraq and West Asian countries accounted for 23 per cent of India's imports. Similarly, India imports 18 per cent from Saudi Arabia. It imports 11 percent from the United Arab Emirates. Imports 2-3 percent from Russia.
Increased
It is in this context that India has decided to buy more crude oil from Russia in the midst of the Ukraine war. India has taken this position as Russia has decided to supply crude oil to India at a discounted price. Indian Oil and Hindustan Petroleum have already agreed to buy the crowd oil from Russia. For the first 15 days of this month, India bought 360,000 barrels of oil daily from Russia. It is currently at 203,000 barrels / day.
Low price
Earlier, India dropped its decision to buy oil from Venezuela due to US sanctions. It has since abandoned its oil-buying business with Iran. Both countries have been supplying oil to India at low prices. But in defiance of the US embargo, India abandoned its decision to buy oil. But this time India did not respect the US embargo on Russia.
Can't hear the speech anymore
India has taken the position that US sanctions should no longer be respected. Fearing sanctions, India has decided to buy more oil from Russia. Consequently, neither the United States nor India is acting contrary to US regulations. This is not to say that it is against US sanctions. I do not think India is violating the rules, that is to say.
Opportunity to buy
India, which currently buys oil from Russia, is expected to buy oil from Iran and Venezuela in the coming days. Because both countries are now in talks with the United States. The United States is seeking to buy oil from both countries.
Petrol Diesel
While the United States buys oil from these two countries in defiance of its ban, India is also expected to buy oil from these two countries at lower prices than before. This is seen as a positive thing for India. If this only happens, India will get oil from Russia and low-lying oil, and oil from Iran and Venezuela. This will greatly reduce the oil shortage in India.
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