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February 6, 2023 at 7:44 pm

India Is Making Huge Profits Refining Cheap Russian Oil to Sell to America, Europe…

russia_gas_oil_stock_gazprom
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by Frances Martel at Breitbart

While the crude oil is of Russian origin, purchasing the refined products does not appear to violate sanctions on Russia’s fuel industry imposed in light of the year-old Russian “special operation” to colonize Ukraine. India has refused to boycott Russian oil, coal, or natural gas, citing the government’s need to provide abundant and affordable fuel to its people and the fact that the European countries attempting to lead the charge against Russia are still heavily dependent on its natural gas to heat homes.

According to Bloomberg, India has increased its exports of gasoline and diesel to New York to levels not seen in nearly four years: 89,000 barrels a day.

“Daily low-sulfur diesel flows to Europe were at 172,000 barrels in January, the most since October 2021,” the outlet observed.

America is currently the largest purchaser on earth of Indian refined oil products, purchasing $588 million worth in November.

The crude oil used to produce the product sold was likely Russian, the outlet noted, but neither American nor European officials have appeared concerned about apparently rewarding India for buying Russian oil. European Union rules reportedly identified refined oil products to be from the country where the oil was refined, not from where the crude oil to manufacture the products came from – so the Russian oil is legally deemed “Indian” gasoline and diesel, even if ultimately a different form of the same fuel.

The government of far-left American President Joe Biden,…

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