We can’t buy oil from Russia because Russians are, uh. They are pure evil. They are murdering everyone and they don’t even do gay sex. So we’re going to uh. Here’s what we’re going to do. We’re going to tell Russia to sell the oil to India, and then we’re going to buy that oil at a markup from the Indians.
This will prove, once and for all, that we are the most moral people in the universe.
India may substantially boost its exports of diesel fuel to the EU, refined from Russian oil targeted by Western sanctions, Bloomberg reported on Monday.
The scheme wouldn’t breach the EU’s regulations, but it highlights the inefficiency inherent in the sanctions policy, the report notes.
The EU ban on almost all imports of Russian oil products kicks in on February 5, coinciding with the implementation of a price cap on sea-borne crude shipped from the sanctioned country.
Until recently, Russia was the biggest external supplier of diesel to EU countries, which have been ramping up purchases ahead of the cutoff.
Due to the sanctions, the global market is projected to see a great rerouting of diesel flows as new importers of Russian crude are sending fuel back to the former buyers. Analysts expect a growing risk of higher prices in the short term. Among the new buyers of sanctioned Russian oil products will reportedly be traders in Africa, Latin America and possibly Asia.
“The loss of Russian barrels is huge and replacing them will be a huge logistical challenge,” Keshav Lohiya, founder of consultant Oilytics, told Bloomberg. “But the market is pricing in less panic as markets and trade flows have proven resilient. This will be a new rerouting of diesel.”
India’s role in supplying EU member states is reportedly significant, as the South Asian nation has turned into one of the largest importers of discounted Russian crude since last year.
It’s so funny.
Europeans are apparently just going to sit there and take it though.
The Germans sat there and took it when the US bombed their pipes.
It seems there is nothing these people won’t tolerate.
India now buys 33 times more Russian oil than last year—Bloomberg pic.twitter.com/YuhKCs1lOc
— Hassan Mafi (@thatdayin1992) January 16, 2023