The European Union is now relying on fuel purchases from India. The Indians are basically buying cheap oil from Russia, refining it and selling it to the EU at a substantial profit.
RT:
The EU is still powering its economy with Russian oil despite sanctions, Bloomberg reported this week. Member states are now said to be buying the sanctioned fuel through India.
In December, the EU, G7, and allied countries imposed an embargo and a $60-per-barrel price cap on Russian crude and later introduced similar restrictions for exports of petroleum products.
But India has not joined the ban and instead has ramped up purchases of Russian oil that Moscow has been offering at discounts.
In 2022-2023, Indian refiners bought between 970,000 and 981,000 barrels of Russian oil per day, accounting for more than a fifth of the country’s overall imports, which were between 4.5 million and 4.6 million barrels per day (bpd), Kpler and Vortexa data showed.
Not only has India become Russia’s top oil buyer since the ban went into effect, New Delhi is now on track to become the bloc’s largest supplier of refined fuels.
People have been posting this meme to describe the situation.
Are these two facts related? 🤔
🔹India is importing record amounts of oil from Russia
🔹India is exporting record amounts of fuel/diesel to Europe!
The irrational US/EU sanctions. pic.twitter.com/imty04piXJ
— S.L. Kanthan (@Kanthan2030) April 30, 2023
The EU sanctioned Russia and boycotted its oil, yet is still buying it indirectly from India, at a higher price.
This is, ironically, fueling both de-dollarization and inflation in the Eurozone, where workers' real wages dropped 6.5% from 2020 to 2022.https://t.co/7dNpneDIsR
— Ben Norton (@BenjaminNorton) May 1, 2023
It is an utterly stupid policy by the EU. They could have just been friends with Russia but they instead chose to act as vassal states to the Jewish homosexual empire in Washington DC. This is driving the entire bloc into a horrible economic collapse.
