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BumRushDaShow

(129,109 posts)
Mon May 30, 2022, 07:03 PM May 2022

India's imports of cheap Russian crude surge since Ukraine invasion

Source: Reuters

NEW DELHI, May 30 (Reuters) - India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of 2021.

The volumes of India's seaborne oil imports from Russia exclude CPC Blend oil, which is also exported via Russia's Black Sea port, but mostly supplied by Kazakhstan's subsidiaries of western countries as transit volumes. India's oil imports from Russia have been rising since February, as Asia's third largest economy and the world's third biggest oil importer, turned to deeply discounted Russian oil, mostly Urals crude, to cut its imports bill.

The country received more than 24 million barrels of Russian crude this month, up from 7.2 million barrels in April and about 3 million in March, and is set to receive about 28 million barrels in June, according to Refinitiv Eikon oil flows. Surging energy imports helped push India's total goods imports from Russia between Feb. 24 and May 26 to $6.4 billion, compared with $1.99 billion in the same period last year, according to government figures seen by Reuters.


Reuters Graphics


Read more: https://www.reuters.com/business/energy/indias-imports-cheap-russian-crude-surge-since-ukraine-invasion-2022-05-30/



Between India and China, this is why Russia is still half alive and kicking and their "supply" most likely hasn't dropped one bit (meaning the "supply/demand" thing as a supposed excuse for the high prices is nothing more than a ruse for speculative price gouging).
40 replies = new reply since forum marked as read
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India's imports of cheap Russian crude surge since Ukraine invasion (Original Post) BumRushDaShow May 2022 OP
Maybe its time we shut down immigration from India. oldsoftie May 2022 #1
they got a shitload of our service jobs, ever try to call any us corp and you are connected to india yaesu May 2022 #3
I've done similar locally. Politely; to a few store owners. oldsoftie May 2022 #6
Explain how you're different... ArmchairStrategist May 2022 #13
That was harsh.. ArmchairStrategist May 2022 #14
Because I just told you how; "polite". Trumpers don't know that word. oldsoftie May 2022 #16
Polite racism is still racism IronLionZion May 2022 #17
Oh come on. Its not racist at all. But I guess its around every corner if you want it to be. oldsoftie May 2022 #19
Immigrants don't normally leave a country because they love it's policies IronLionZion May 2022 #22
I've been in another country & been asked "WTH?" by a few people. oldsoftie May 2022 #23
Hell no. We need more doctors and scientists Jose Garcia Jun 2022 #36
Confiscate it. tirebiter May 2022 #2
So we send an army and attack India? former9thward May 2022 #9
Seriously? 867-5309. May 2022 #26
Are we going to attack our NATO allies as well Zeitghost Jun 2022 #30
Sanction India... JT45242 May 2022 #4
We would destroy our own economy doing those things. former9thward May 2022 #10
How about Germany and the rest of our allies in NATO Zeitghost Jun 2022 #31
India has been very shitty. They don't care about Ukraine, but root for Putin to stick it to... Lucky Luciano May 2022 #5
What an idiot. That "sleeping giant" invaded in '14, not to mention Georgia & Chechnya. oldsoftie May 2022 #20
India appears to be very anti-west blue-wave May 2022 #7
They were close allies of the Soviet Union and this has continued LeftInTX May 2022 #8
Youtubers actually helped the police get evidence to bust them IronLionZion May 2022 #18
Shameful behavior EndlessWire May 2022 #11
..ahem check your biases and educate yourselves ArmchairStrategist May 2022 #12
As a new member of DU BumRushDaShow May 2022 #15
Pharmaceuticals need to be brought BACK to the US!! oldsoftie May 2022 #21
I agree 100% BumRushDaShow May 2022 #24
Ok! ArmchairStrategist Jun 2022 #29
For future reference..... Fla Dem Jun 2022 #38
Never forget Modi is another wannabe dictator, never forget the hate crimes JCMach1 Jun 2022 #40
US surpasses China as India's biggest trading partner in FY22 ... keithbvadu2 May 2022 #25
Lots of countries aren't sanctioning Russia 867-5309. May 2022 #27
Yeah but they don't have the GDP that the largest countries have BumRushDaShow May 2022 #28
How do these numbers compare to European oil and gas imports? hunter Jun 2022 #32
Let me pull out my trusty graphs BumRushDaShow Jun 2022 #33
I was optimistic about "Peak Oil," not panicked. hunter Jun 2022 #34
"As I post this Germany's carbon footprint per kilowatt-hour is four times that of France" BumRushDaShow Jun 2022 #35
"Peak oil" was supposed to have happened a couple decades ago. oldsoftie Jun 2022 #37
This situation shows who our true friends are. rockfordfile Jun 2022 #39

oldsoftie

(12,558 posts)
1. Maybe its time we shut down immigration from India.
Mon May 30, 2022, 07:11 PM
May 2022

You don't want to assist freedom in the world, fine, take care of everyone yourself.

yaesu

(8,020 posts)
3. they got a shitload of our service jobs, ever try to call any us corp and you are connected to india
Mon May 30, 2022, 07:25 PM
May 2022

jf india is playing footsie with pootie its time to break all ties with them. I for one will give anyone from there hell about this if i'm connected in the future.

oldsoftie

(12,558 posts)
6. I've done similar locally. Politely; to a few store owners.
Mon May 30, 2022, 09:22 PM
May 2022

We have many Indian convenience store owners & I've mentioned to a few of them "Hey, maybe tell your friends back home that Russia will never be India's friend"
Probably goes nowhere but who knows.

14. That was harsh..
Tue May 31, 2022, 01:12 AM
May 2022

..sorry about that. Tell you what, if you're serious about sending a message, instead of harassing an ordinary man working to feed his family Google for India's ambassador to US and send him message on Facebook, Twitter or write to him. At least you will know you made your voice heard

IronLionZion

(45,457 posts)
17. Polite racism is still racism
Tue May 31, 2022, 08:10 AM
May 2022

Most Indian Americans are Democrats and have more influence in the US government than the Indian government.

India buys lentils from the US and wheat from Ukraine. Do you politely mention that to the store owners?

oldsoftie

(12,558 posts)
19. Oh come on. Its not racist at all. But I guess its around every corner if you want it to be.
Tue May 31, 2022, 09:06 AM
May 2022

Why would I talk about trying to change India's policy to someone NOT from India?
India not voting against russia in the UN & increasing they Russian oil purchases are quite a bit more important than how many lentils they buy from the US.

IronLionZion

(45,457 posts)
22. Immigrants don't normally leave a country because they love it's policies
Tue May 31, 2022, 09:18 AM
May 2022

in fact, many left because they disagree with the country's government, policies, economic opportunities, etc. You wouldn't want to answer for Trump's policies if you didn't vote for him would you?

oldsoftie

(12,558 posts)
23. I've been in another country & been asked "WTH?" by a few people.
Tue May 31, 2022, 09:30 AM
May 2022

It didnt surprise me. Nobody was rude. the way he was I probably should've expected it

Zeitghost

(3,862 posts)
30. Are we going to attack our NATO allies as well
Wed Jun 1, 2022, 12:53 AM
Jun 2022

As they buy billions a week from Russia funding their war crimes?

JT45242

(2,280 posts)
4. Sanction India...
Mon May 30, 2022, 07:35 PM
May 2022

Start with freezing assets if companies that buy oil/gas from Russia.

Put the Indian prime minister and his cabinet on sanction lists.

Give them 30 days to find another supplier or all Indian goods get a 500percent tariff. Also no shipment of anything electronic or car parts.

After 90 days no American food exports.

Do the same to China.

If you buy from Russia, then you face consequences.

former9thward

(32,025 posts)
10. We would destroy our own economy doing those things.
Mon May 30, 2022, 11:13 PM
May 2022

There are countless ties between the U.S. and India/China.

Lucky Luciano

(11,257 posts)
5. India has been very shitty. They don't care about Ukraine, but root for Putin to stick it to...
Mon May 30, 2022, 07:45 PM
May 2022

…stick it to the west for supporting Ukraine.

Here is one such scumbag posting on LinkedIn. I wished for his business and livelihood to be destroyed, but the post was removed.

The context was of the Finnish PM visiting Zelenskyy in Kiev offering support and also wanting to join NATO.

Basically, he argues that Putin should not have been poked and that US hegemony needs to be checked by others like Russia. He doesn’t really give a shit about Ukraine.

oldsoftie

(12,558 posts)
20. What an idiot. That "sleeping giant" invaded in '14, not to mention Georgia & Chechnya.
Tue May 31, 2022, 09:11 AM
May 2022

And more too.
Maybe Sandeep needs to get a grip

blue-wave

(4,356 posts)
7. India appears to be very anti-west
Mon May 30, 2022, 09:44 PM
May 2022

I have watched a number of videos with tech geeks scamming call scammers. Most of what I have watched, the scammers are headquartered in India. There are other YouTubers who are scamming the scammers, but here is one video from one channel I've watched in the past. The Indian government could shut these scammers down in an instant. Why don't they?

LeftInTX

(25,383 posts)
8. They were close allies of the Soviet Union and this has continued
Mon May 30, 2022, 11:06 PM
May 2022

They don't get along with China and of course Pakistan.

Their constitution establishes themselves as "socialists"...LOL

Nixon hated Indira Gandhi because she "supported the communists"

IronLionZion

(45,457 posts)
18. Youtubers actually helped the police get evidence to bust them
Tue May 31, 2022, 08:22 AM
May 2022

I follow Scammer Payback, that dude is committed and relentless.

The joint effort between him and other Youtubers to send Mark Rober glitter bombs has resulted in arrests.

Kolkata: 7 fake call centres busted, 3 with help from US netizen
https://timesofindia.indiatimes.com/city/kolkata/7-fake-call-centres-busted-3-with-help-from-us-netizen/articleshow/91453673.cms


Here's how a group of YouTubers pranked a scam call centre in India that makes $18 million per year
https://www.businessinsider.in/tech/news/how-a-group-of-youtubers-pranked-a-scam-call-centre-in-india-that-earns-18-million-per-year/articleshow/91463331.cms

Scammers pay off the local police so Youtubers have learned to always include the CBI (like American FBI) and state police. FBI works with their counterparts in India to take down scammers. It requires international collaboration due to the nature of the crimes and jurisdictions of the people involved. So US law enforcement will arrest their money mules here in the US.

EndlessWire

(6,537 posts)
11. Shameful behavior
Tue May 31, 2022, 12:18 AM
May 2022

but India threw in with Russia-China (reference the Olympic Manifesto) and they have had partnerships like this since before the war. Nevertheless, they're gonna pay for their lack of compassion for Ukraine and all the countries that are going to starve because of Russia's treachery. If you stand with Putin, you are against most of the rest of the world, and these considerations will now factor into business. They might wonder why they are no longer on the A List.

Ukraine,

12. ..ahem check your biases and educate yourselves
Tue May 31, 2022, 12:53 AM
May 2022

We should first have Europe and our other major allies doing imports exports before we can even ask India to do the same. It's on CNN only today the European leaders talking about 90%ban. During the cold war all the way up until recently we were giving billions to Pakistan and enriching China with our business with them. Guess what both of those countries constantly attack India. You're all talking like the regular republican radio talkshow fans repeating like parrots. Get out of your soap boxes. The diplomatic relationship should go both ways. To this day Indians feel and suspect that US backstabs them(US is a reason why they're still not on unsc). So yes, they're not going to respond fast. They're huge democracy, big % of people are with the US than what you may feel.

BumRushDaShow

(129,109 posts)
15. As a new member of DU
Tue May 31, 2022, 05:30 AM
May 2022

you need to check your lecturing at the door and get a feel for how this site works, and take some time to read the many thousands of viewpoints that get posted here. Your Reddit-style juvenile finger-wagging is un-called for.

The U.S. has never had policy positions that didn't change or get tweaked from administration to administration as our own leaders will naturally respond to world leaders when either we and/or they change governments. And in most cases, those leaders have to answer to some legislative body, whether Congress here or a Parliament in most of the rest of the world.

Both India and China are the largest sources of "APIs" (Active Pharmaceutical Ingredients) that are used by U.S. (and other) pharmaceutical companies, and obviously that gets imported here to create finished product (and in some case, those countries will make and export finished product as well), so that type of complex relationship will be factored in for any response, whether by the U.S. or the western European pharma companies that use those components (e.g., Janssen, AstraZeneca, Hoffman-LaRoche, etc).

Welcome to DU.

BumRushDaShow

(129,109 posts)
24. I agree 100%
Tue May 31, 2022, 10:08 AM
May 2022

And we do make much of our own finished product but what we need to start doing again, is to make the bulk active ingredients that go into those pharmaceuticals.

But all of this happened with and is under the purview of many "trade agreements" and "treaties", which often means one partner "giving up making a product for export" to allow for the import of it from another partner, with them importing your export of something else, after they give up their own exports of that product.

29. Ok!
Wed Jun 1, 2022, 12:14 AM
Jun 2022

I'm new member, not new to DU. Been reading posts every single day for 6+years. Don't call me names. You didn't like what I said, you added your comments..that's good enough. I can change views with data. I don't know what reddit style is, I don't spend time there. May be this post is in this category. Thanks for the welcome!

PS:- I considered not responding but don't want you to be nasty to someoneelse new. Don't respond to this. I won't continue this conv. I'm sure we'll exchange views elsewhere. We're on the same side. I'd have sent this privately but don't know how. So there goes..

Fla Dem

(23,691 posts)
38. For future reference.....
Fri Jun 3, 2022, 03:17 PM
Jun 2022

You can send DU mail to another member by accessing "My Profile" at the top of the web site.

At the top of that page, the 4th selection is "Send DU Mail".

Welcome to DU!

BumRushDaShow

(129,109 posts)
28. Yeah but they don't have the GDP that the largest countries have
Tue May 31, 2022, 10:12 PM
May 2022

so their "sanctions" would have a minuscule effect.

hunter

(38,317 posts)
32. How do these numbers compare to European oil and gas imports?
Wed Jun 1, 2022, 10:15 AM
Jun 2022

European nations are having a very difficult time quitting Russian fossil fuels. They talk the talk but are unwilling to subject their citizens to fuel and electricity shortages, or rapidly escalating prices.

Rising prices also affect exporting nations like the U.S.A..

Modern society's dependence on fossil fuels is the basic problem here.

It's unethical to extract fossil fuels, full stop. Some fossil fuel exporting nations are less horrible than others, but all are contributing to the global warming that may ultimately destroy our civilization. We're all a bunch of meth addicts, some of us arguing about the ethics of our suppliers, others paying more attention to price.

BumRushDaShow

(129,109 posts)
33. Let me pull out my trusty graphs
Wed Jun 1, 2022, 11:06 AM
Jun 2022

(taken from here - https://www.democraticunderground.com/?com=view_post&forum=1014&pid=2898439)





What is interesting about the above is that India isn't showing up on there, meaning I expect their recent Russian oil buys in large quantities is establishing that they have shifted their contracts strategy to favor Russia now (the reason which is mentioned - the cheap price).

And doing a quick search, apparently the most used fuel in India is... drum roll.... COAL.



(from here - https://www.eia.gov/international/analysis/country/IND)

But their oil imports have mostly come from the Middle East!



(also from here - https://www.eia.gov/international/analysis/country/IND)

Some of the European countries, just due to the climate issue, were on the way to phasing it out although on a LOOOOOONNNNGGGG timeline (which is why you had people like Greta Thunberg and others yelling and screaming during the last climate summit).

I suppose what Russia has done has become more of a catalyst towards moving away from fossil fuels than the destructive storms or floods or wildfires and the mass die-offs of sea and wildlife due to climate change.

And along that line, you might recall the hyperbolic panic on DU surrounding the subject of "Peak Oil" and how we were pretty much there and then there would be no more left. And LOL!!!! I didn't even know DU had a Group called "Peak Oil" - https://www.democraticunderground.com/?com=forum&id=1129

And as a side reference, here is where the world's fossil fuel production comes from (and yup, USA! USA! USA! except for coal) -





hunter

(38,317 posts)
34. I was optimistic about "Peak Oil," not panicked.
Wed Jun 1, 2022, 11:42 AM
Jun 2022

Woohoo! I thought, we humans will be forced to decrease our fossil fuel use, like it or not.

Alas, it soon became apparent there was enough natural gas in the ground to destroy the world as we know it. Too many people still think gas is a "clean" alternative to coal, especially when it supports their fanciful renewable energy schemes.

This is my favorite chart, showing the carbon footprint of many nation's electrical supply, starting with France:

https://app.electricitymap.org/zone/FR

As I post this Germany's carbon footprint per kilowatt-hour is four times that of France.

Germany's aggressive renewable energy schemes were a disaster because they were dependent on Russian natural gas. A lot of people saw this crisis coming, they just didn't expect it so soon.

BumRushDaShow

(129,109 posts)
35. "As I post this Germany's carbon footprint per kilowatt-hour is four times that of France"
Wed Jun 1, 2022, 12:22 PM
Jun 2022

That's because Germany is the largest economy in Europe and has about 1.5 times more GDP than France.



But also because France mostly uses nuclear power for energy and they were supposed to slowly phase that out (after Chernobyl and then Fukushima-Daiichi), but that is apparently a LOOOOOOONNNNNNGGGGG range goal now.

The "energy ship" is a massive juggernaut that is going to be extremely difficult to turn around.

I suppose we could always do it the same way they did in Bartertown in "Mad Max: Beyond Thunderdome" -



oldsoftie

(12,558 posts)
37. "Peak oil" was supposed to have happened a couple decades ago.
Wed Jun 1, 2022, 05:25 PM
Jun 2022

Didnt happen then & it doesnt look like it's going to happen anytime in the next several decades.
Without new inventions, the "renewable push" for batteries & solar will crumble as well. Nobody is paying any attention to just what it takes to make a Tesla battery. Or a filed of solar panels. And who we become even more beholden to if we DO continue to push this fantasy; China.
As of today, unless we & the rest of the sane world increases the use of nuclear power, we will continue to fall short of any reasonable goals we have or we will begin to cut power supplies to a lot of people.

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