2y ago

Europe bought Russian oil via India at record rates in 2023 despite Ukraine war

'Europe bought Russian oil via India at record rates in 2023 despite Ukraine war' - Times of India

7 comments

Capitalism isn't disrupted by war, it feeds on it.
No, no, see... They bought Indian oil from India. You know India, known for their oil reserves. Totally not Russian I tell you.
- India sells oil from India to EU and sells oil from Russia within India. Everyone happy except Ukraine.
  
  I'm sure Europeans are absolutely thrilled to be paying a huge markup on the oil they used to get directly from Russia.
"Record rates" to what we used to buy from India, which is almost nothing. EU oil imports from India increased from 111k barrels a day to 236k barrels a day, while we used to import something like 4.5 million barrels of oil per day straight from Russia.
But writing "EU now imports 3% of the oil it used to from Russia through India" would hardly be news worth writing about.
- You're comparing crude oil to refined products.
India injected freedom & democracy into the oil

7 comments