The Oil Policy of Russia & India Excludes US & Arab Countries
US, UK & EU tried so hard to kneel Russia by imposing heavy sanctions. But the oil policy of Russia & India is killing the oil dependency on US & Arab nations.
America, UK and EU were thinking that no one would be able to touch them by imposing heavy sanctions on Russia on the Russia-Ukraine dispute. They thought that Russia would kneel down, but Russia would also think that what a joke.
India’s Oil Dependency Is Shifting To Russia
In this article we will know how Russia has found opportunity in disaster and how India is getting maximum benefit from it.
In fact, in the last few issues, we have highlighted how the Arab world was growing angry with India from Nupur Sharma’s perspective.
But that was only an excuse because India’s dependence on them is decreasing in terms of oil. It is also natural because this dependence is now shifting from America and the Arab world to Russia.
An Opportunity, Midst of Conflict
Now you must also be thinking what will be the advantage of India in the war between America and Russia? For this, attention will have to be paid from the beginning when America started imposing economic sanctions on Russia.
They felt that by doing this they would bow down to the whole world and pauper Russia, as they tried to do with the Soviet Union in the late 80s.
But the exact opposite happened and Russia also benefited immensely in the export of currency, oil, because business is run by the mind, not by emotion.
According to the Center for Research on Energy and Clean Air, Moscow, Russia has earned a record 93 billion euros from oil exports since the current period i.e. February till now, of which $97 billion earned, which is about two-thirds of earnings from oil exports alone.
Who Is Buying Russia’s Oil?
But the question still arises: who is buying this oil? Due to the fear of America, most of the developed countries have banned any kind of trade with Russia.
But fearing bankruptcy, many European countries are ready to buy Russian oil at expensive prices and countries like Germany are not ready to impose sanctions even if they want.
In such a situation, countries like India and China, to whom Russia has given full discounts, and hitting six sixes on the spot, both of these countries, keeping the wrath of America in huge amounts, are more than ever before started buying Russian oil.
However the concern is not limited to this only. In 2021, India imported 16 million barrels of Russian oil, which was not even half of its total oil imports.
But only from February to June, India has imported more than 13 million barrels of Russian crude oil so that oil prices can also be controlled and the arrogance of the Arab world and America can also be shown.
Disadvantages of Sanctioning Russia
To be honest, somewhere America has axed its own foot by imposing economic sanctions on Russia. On the one hand it has provided a golden opportunity to Russia to destroy the arrogance of Arab countries in the oil world.
On the other hand it has paved the way for further strengthening the friendship between India and Russia. What to say about this policy of America, we went to shut down the shop of Russia, to save our own property.