LMAO: India resells Russian oil to the European Union.

[Renampun]

Indians are making money, Russians are making money, Europeans getting robbed and still buying the Russian gas.

Brilliant scheme.

Lmao What happened to Europe’s unicorn fart powered windmills anyway? I thought oil/gas was outdated… What happened to WEF’s push for zero carbon footprint?

So, India acts as a third party (oil broker from Russia)

from the start, I was also very skeptical that the boycott of oil and gas from Russia that Europe was doing would be successful in stopping the war, oil and gas are a basic human need, while there is no renewable energy that can replace oil and gas 100%. with the above scenario then India will continue to profit lol.

[1714017784]

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[Johnyz]

Indians are making money, Russians are making money, Europeans getting robbed and still buying the Russian gas.

Brilliant scheme.

Lmao What happened to Europe’s unicorn fart powered windmills anyway? I thought oil/gas was outdated… What happened to WEF’s push for zero carbon footprint?

So, India acts as a third party (oil broker from Russia)

from the start, I was also very skeptical that the boycott of oil and gas from Russia that Europe was doing would be successful in stopping the war, oil and gas are a basic human need, while there is no renewable energy that can replace oil and gas 100%. with the above scenario then India will continue to profit lol.

This is a good opportunity to India since they remain neutral though of course they are not supporting the war it’s just that, they also need that Oil and they have to be more wise. EU countries have to deal with this, it’s ok to pay a littler higher than to receive nothing at all, Oil price continues to increase so we can expect this to become more expensive because of this Third party fees. EU should have a good Oil reserve now to maintain a cheaper price as much as possible because it looks like the war will still not end this year.

[DrBeer]

Hey man! I understand you are from Ukraine or have relatives there? I understand Sithara007's position, what I don't understand is that of the European Union with a disastrous energy policy, which was already a disaster when it depended mainly on cheap Russian gas, and now it's even worse as it leads to botches like the one described in this thread?

You criticise India for buying Russian fossil fuels and you don't criticise the EU for buying them from India once refined?

His position is understandable, as he resides in Ukraine. What I don't understand is his persistence in blaming India, when it is the US and EU who are responsible for Russia receiving $100 billion in hydrocarbon revenues during the first 100 days of war. Russia is profiting out of exports, not because India is importing their oil and gas. Russia is profiting because the prices went up. And the policies in US and EU are directly responsible for this increase. Now my Ukrainian friend doesn't have the courage to criticize EU or the US and for him India is a convenient punching bag.

Now you are deliberately either distorting, or even worse, deliberately lying . I really blame Germany both for their internal crisis and the crisis that they created in the EU through assistance in the monopolization of the European market by the Russian supplier, and for the fact that they actively continue to actually support Russia. And here the purchase of gas and oil is no longer in the first place. I also have claims to other participants in the process who continue to violate the sanctions regime and supply to Russia, for example, dual-use products, or frankly military products. But at the same time, I perfectly understand that, for example, it is stupid now to demand the abandonment of Russian gas, in a situation where its real consumption is such that it will not be possible to replace it in half a year. And the fact that the EU refused to buy oil from Russia is a great move, although it still takes time before its real implementation.

As for India, I'm just asking, what is the right thing to do, to solve our problem, which we have been living with for decades. Decide, realizing that this money will be used to kill civilians in Ukraine, and the destruction of its economy and infrastructure? This is not an accusation of direct support for the genocide of the Ukrainian people, it's just a matter of understanding other people's moral standards.
PS But Germany, even with everything that I wrote above, is now ready to step by step refuse to purchase hydrocarbons, is ready to build terminals for receiving liquefied gas, and demonopolize the market. Of course, the government does not do this of its own free will, but it understands that mistakes must be corrected.

[Sithara007]

^^^ Where did I lied?

I said that Russia is profiting out right now, because the oil-gas prices went up. And why did the oil and gas prices went up? When Trump was in power, crude oil was trading at $40 per barrel, and natural gas was trading at $60 per thousand cubic meters. Russian government was receiving around $10 billion per year at this point from the oil and gas sales.

When Biden became president, he implemented a series of policy changes and the oil prices went up to $120 per barrel and gas prices went up to $1,200 per thousand cubic meters. Russia is expected to make $200 to $300 billion this year from their exports, thanks to higher prices.

The reason why the Russian revenue went up is due to the fact that Biden regime helped to increase the gas and oil prices. India is an insignificant player in the global market to have any significant impact. Out of the 10.5 million barrels of crude oil that Russia produce every day, even now (at the peak), less than 10% goes to India. Out of the 540 billion cubic meters of gas they produce every year, less than 1% end up in India.

I have provided all the facts. You are just blaming India, because we are just an easy punching bag for you. Biden and EU are responsible for increased revenue inflow in to Russia, not India.  

And one more thing. Indian government has made this clear. We are ready to stop imports from Russia, in case alternate supplies are made available at the same cost.

[galambo]

The reason why the Russian revenue went up is due to the fact that Biden regime helped to increase the gas and oil prices. India is an insignificant player in the global market to have any significant impact. Out of the 10.5 million barrels of crude oil that Russia produce every day, even now (at the peak), less than 10% goes to India. Out of the 540 billion cubic meters of gas they produce every year, less than 1% end up in India.

Whats wrong if India is buying oil and gas from Russia? India is an old ally of Russia and why he should cut off his ties with a reliable ally on the demand of USA and Europe. Now India is buying more coal from Russia, India's Russian coal purchases spike despite sanctions. India buy discounted oil from Russia and thats helping its economy and people. USA and Europe must fight there war themselves not involve others into it.

[bitgov]

^^^ Where did I lied?

I said that Russia is profiting out right now, because the oil-gas prices went up. And why did the oil and gas prices went up? When Trump was in power, crude oil was trading at $40 per barrel, and natural gas was trading at $60 per thousand cubic meters. Russian government was receiving around $10 billion per year at this point from the oil and gas sales.

When Biden became president, he implemented a series of policy changes and the oil prices went up to $120 per barrel and gas prices went up to $1,200 per thousand cubic meters. Russia is expected to make $200 to $300 billion this year from their exports, thanks to higher prices.

The reason why the Russian revenue went up is due to the fact that Biden regime helped to increase the gas and oil prices. India is an insignificant player in the global market to have any significant impact. Out of the 10.5 million barrels of crude oil that Russia produce every day, even now (at the peak), less than 10% goes to India. Out of the 540 billion cubic meters of gas they produce every year, less than 1% end up in India.

I have provided all the facts. You are just blaming India, because we are just an easy punching bag for you. Biden and EU are responsible for increased revenue inflow in to Russia, not India.  

And one more thing. Indian government has made this clear. We are ready to stop imports from Russia, in case alternate supplies are made available at the same cost.

India make smart moves. That is good thing about them.
The are giving oil on less prices to their people also selling them to EU, EU and USA want the whole world to do what they like. But its not possible every time.
Carry on - and give benefit to local people - that is the real purpose of the local government.

[tygeade]

PS I don't blame India for anything. I can only express my personal opinion about the moral side of this or that act, to which I have every right. Like India, make decisions and explain your attitude to the problem. I just said that such a position could someday play a cruel joke on India. A passive or neutral position is, for example, when a bully beats a girl, and you are a healthy man, walk by and say - that's their business, I'm not alone, and give the bully a stone in his hand, because it turns out that the bully is your business partner. It's just that India is setting a very bad precedent. And when trouble happens to India, everyone will say - yes, this is a completely different problem, and why we will strain and suffer because of India or its problems. Although I sincerely wish that everything is fine in India and that there are no misfortunes, since I have a different attitude to other people's problems and tragedies ...

Let me remind you that Ukraine from the beginning of the operation and still carries out the transit of Russian gas through its territory to Europe and receives money from Gazprom for this. Don't you think it's too hypocritical to blame others for what you do yourself?

I did not know this, that sounds like a very weird situation. I mean what you are saying is that Russia gets rich from gas sales, and Ukraine is helping them get those sales and earn some profit from their profit as well, and at the same time Russia is sending missiles to them and bombing their nations?

How does that work? Like if you give me enough money I will ignore the bombs you are sending my way? Or like if my profits are up then I do not care if my workers died from a Russian soldiers gun? I do not know the logic behind this, I do not have any data to go on with, all I know is what you said, I do not know if what you said is true or not neither, but I really hope it is not true.

[Freeesta]

Excellent scheme! Each country gets what it wants to get. India gets oil and makes money, Russia makes money, the European Union gets oil, and only the offended Mr. Zelensky walks around the world with his arm outstretched. Bravo! That is why it was necessary to resolve the issue at the negotiating table!

[YinShuiSiYuan]

Excellent scheme! Each country gets what it wants to get. India gets oil and makes money, Russia makes money, the European Union gets oil, and only the offended Mr. Zelensky walks around the world with his arm outstretched. Bravo! That is why it was necessary to resolve the issue at the negotiating table!

Mr. Zelensky should understand that its not a wise thing to poke a power like Russia when USA is only good in supporting through weapons. USA did the same with Russia in 80s in Afghanistan but this time Russians came up with some plan and they have counter move for every move made by USA.

[be.open]

PS I don't blame India for anything. I can only express my personal opinion about the moral side of this or that act, to which I have every right. Like India, make decisions and explain your attitude to the problem. I just said that such a position could someday play a cruel joke on India. A passive or neutral position is, for example, when a bully beats a girl, and you are a healthy man, walk by and say - that's their business, I'm not alone, and give the bully a stone in his hand, because it turns out that the bully is your business partner. It's just that India is setting a very bad precedent. And when trouble happens to India, everyone will say - yes, this is a completely different problem, and why we will strain and suffer because of India or its problems. Although I sincerely wish that everything is fine in India and that there are no misfortunes, since I have a different attitude to other people's problems and tragedies ...

Let me remind you that Ukraine from the beginning of the operation and still carries out the transit of Russian gas through its territory to Europe and receives money from Gazprom for this. Don't you think it's too hypocritical to blame others for what you do yourself?

I did not know this, that sounds like a very weird situation. I mean what you are saying is that Russia gets rich from gas sales, and Ukraine is helping them get those sales and earn some profit from their profit as well, and at the same time Russia is sending missiles to them and bombing their nations?

How does that work? Like if you give me enough money I will ignore the bombs you are sending my way? Or like if my profits are up then I do not care if my workers died from a Russian soldiers gun? I do not know the logic behind this, I do not have any data to go on with, all I know is what you said, I do not know if what you said is true or not neither, but I really hope it is not true.

Well, now you know. A gas pipeline passes through Ukraine and Russian Gazprom pays Ukrainian Naftogaz for the transit of Russian gas from Russia to Europe at a rate of 41.7 million cubic meters of natural gas per day through the Sudzha gas metering station.

[Ultegra134]

^^^ Where did I lied?

I said that Russia is profiting out right now, because the oil-gas prices went up. And why did the oil and gas prices went up? When Trump was in power, crude oil was trading at $40 per barrel, and natural gas was trading at $60 per thousand cubic meters. Russian government was receiving around $10 billion per year at this point from the oil and gas sales.

When Biden became president, he implemented a series of policy changes and the oil prices went up to $120 per barrel and gas prices went up to $1,200 per thousand cubic meters. Russia is expected to make $200 to $300 billion this year from their exports, thanks to higher prices.

The reason why the Russian revenue went up is due to the fact that Biden regime helped to increase the gas and oil prices. India is an insignificant player in the global market to have any significant impact. Out of the 10.5 million barrels of crude oil that Russia produce every day, even now (at the peak), less than 10% goes to India. Out of the 540 billion cubic meters of gas they produce every year, less than 1% end up in India.

I have provided all the facts. You are just blaming India, because we are just an easy punching bag for you. Biden and EU are responsible for increased revenue inflow in to Russia, not India.  

And one more thing. Indian government has made this clear. We are ready to stop imports from Russia, in case alternate supplies are made available at the same cost.

India should be the least of our concerns, to be honest. The United States and EU have created this situation by imposing stupid sanctions and bans creating huge revenue for Russia, while inflation is soaring in US and EU, with gas prices, electricity and groceries skyrocketing. The energy crisis had started since September, but the whole ordeal with the war and the imposed sanctions made it 50 times worse than it already was.

[Hispo]

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What it is crazy about this situation is the fact energy prices are this high during summer in the north: Europe, USA, Canada...

I can't imagine how expensive energy will get once people won't have other option but pay to warm their houses up this year during the winter. Do you believe there is a chance USA/EU would withdraw some sanctions against Russian gas by winter? Or is it more likely USA/Germany would backpedal their plans to push green energy in favor of fossil during the winter? 

[Ultegra134]

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What it is crazy about this situation is the fact energy prices are this high during summer in the north: Europe, USA, Canada...

I can't imagine how expensive energy will get once people won't have other option but pay to warm their houses up this year during the winter. Do you believe there is a chance USA/EU would withdraw some sanctions against Russian gas by winter? Or is it more likely USA/Germany would backpedal their plans to push green energy in favor of fossil during the winter? 

My heart skips a beat when thinking about the upcoming winter. I was reading an article earlier on The Guardian regarding the war, it mentioned that it could even last years, which means that the situation will only worsen in the future, to the point that it's stressing me out. Fuel prices are expected to rise even further with crude oil being extremely volatile, while the exchange rate of EUR/USD has severely shifted, having a huge impact on imports. Already working two jobs to be able to maintain myself and have some kind of purchasing power, but it's still not enough.

[n0ne]

-snip-

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What it is crazy about this situation is the fact energy prices are this high during summer in the north: Europe, USA, Canada...

I can't imagine how expensive energy will get once people won't have other option but pay to warm their houses up this year during the winter. Do you believe there is a chance USA/EU would withdraw some sanctions against Russian gas by winter? Or is it more likely USA/Germany would backpedal their plans to push green energy in favor of fossil during the winter? 

My heart skips a beat when thinking about the upcoming winter. I was reading an article earlier on The Guardian regarding the war, it mentioned that it could even last years, which means that the situation will only worsen in the future, to the point that it's stressing me out. Fuel prices are expected to rise even further with crude oil being extremely volatile, while the exchange rate of EUR/USD has severely shifted, having a huge impact on imports. Already working two jobs to be able to maintain myself and have some kind of purchasing power, but it's still not enough.

During the year 2014 itself Russo - Ukrainian War have begun. Now in 2022 the invasion have happened. As said this war seems to last for longer days, because in an article saw an old lady starting her vegetable business close to the region of bombs. This shows that people can't survive anymore, they need to do something for survival.

We don't know what is gonna happen by the winter, really painful situation for people residing in such a climate and unable to keep them warm. To go completely on green energy isn't a possible solution for now, and for these climatic conditions it is always the fossil fuels. Russia will make plans to make them stronger when the demand increases.

[Sithara007]

India should be the least of our concerns, to be honest. The United States and EU have created this situation by imposing stupid sanctions and bans creating huge revenue for Russia, while inflation is soaring in US and EU, with gas prices, electricity and groceries skyrocketing. The energy crisis had started since September, but the whole ordeal with the war and the imposed sanctions made it 50 times worse than it already was.

And the worst thing is that all this has just started. I won't be surprised if the prices go up much higher than the current levels. I expect crude oil trading at above $200 per barrel before the end of this year (both OPEC and the US shale oil producers have refused to increase their output). And I expect natural has to trade at higher than $2,000 per thousand cubic meters. The Russians will be happy, but they won't be able to make as much money as they would have liked due to the sanctions. The big gainers here are OPEC nations, such as Saudi Arabia, Kuwait and the United Arab Emirates.

[Ultegra134]

India should be the least of our concerns, to be honest. The United States and EU have created this situation by imposing stupid sanctions and bans creating huge revenue for Russia, while inflation is soaring in US and EU, with gas prices, electricity and groceries skyrocketing. The energy crisis had started since September, but the whole ordeal with the war and the imposed sanctions made it 50 times worse than it already was.

And the worst thing is that all this has just started. I won't be surprised if the prices go up much higher than the current levels. I expect crude oil trading at above $200 per barrel before the end of this year (both OPEC and the US shale oil producers have refused to increase their output). And I expect natural has to trade at higher than $2,000 per thousand cubic meters. The Russians will be happy, but they won't be able to make as much money as they would have liked due to the sanctions. The big gainers here are OPEC nations, such as Saudi Arabia, Kuwait and the United Arab Emirates.

That's actually a prediction which has been rumored since the beginning of the war. Honestly, at this point I wouldn't be surprised, one thing is for sure, the condition is only going to get worse as the time passes by. Crude oil has been extremely volatile and little has been done to control the excessive prices. The following winter will be worse than the other two we had with Covid-19...

[Hispo]

-snip-

-snip-

-snip-

My heart skips a beat when thinking about the upcoming winter. I was reading an article earlier on The Guardian regarding the war, it mentioned that it could even last years, which means that the situation will only worsen in the future, to the point that it's stressing me out. Fuel prices are expected to rise even further with crude oil being extremely volatile, while the exchange rate of EUR/USD has severely shifted, having a huge impact on imports. Already working two jobs to be able to maintain myself and have some kind of purchasing power, but it's still not enough.

We don't know what is gonna happen by the winter, really painful situation for people residing in such a climate and unable to keep them warm. To go completely on green energy isn't a possible solution for now, and for these climatic conditions it is always the fossil fuels. Russia will make plans to make them stronger when the demand increases.

I'd dare to say we are already seeing an advance of what will likely happen this next Winter.
It seems Germany has backpedaled on its green plans for now and started to burn coal to face the lack of natural gas:

https://www.cnbc.com/2022/06/20/ukraine-war-germany-turns-to-coal-as-russia-throttles-gas-supplies.html

I knew that Germany has little to none oil reserves and little gas, but much coal. This led me to briefly investigate the global reserves of coal and according to Wikipedia, this is the distribution:

Source: Wikipedia.

Surprisinly, USA and Germany has important reserves of Coal.
This means that, if green politicians swallow their pride a bit, nobody should suffer of cold next summer, of course, we know this is not the ideal case but it may work as a plan C, in case A and B fail.

Germany is already taking a step forward even though they took environmental policies very seriously, let us see how the events develop as temperatures start to drop.

[Naficopa]

And the worst thing is that all this has just started. I won't be surprised if the prices go up much higher than the current levels. I expect crude oil trading at above $200 per barrel before the end of this year (both OPEC and the US shale oil producers have refused to increase their output). And I expect natural has to trade at higher than $2,000 per thousand cubic meters. The Russians will be happy, but they won't be able to make as much money as they would have liked due to the sanctions. The big gainers here are OPEC nations, such as Saudi Arabia, Kuwait and the United Arab Emirates.

Seems like Indian are very happy with their PM. He seems a simple man but are his advisors good or does his mind work really well?
They are smart enough having good terms with US and they are buying oil from Russia and selling it to EU. Very impressive though!

[Sithara007]

Seems like Indian are very happy with their PM. He seems a simple man but are his advisors good or does his mind work really well?
They are smart enough having good terms with US and they are buying oil from Russia and selling it to EU. Very impressive though!

I would give credit to the PM (Narendra Modi), but at the same time I will acknowledge the contribution from the Minister of External Affairs (Subrahmanyam Jaishankar). The latter was quite instrumental in countering the criticism from western nations regarding Russian crude oil imports. You can watch this interview here, to understand how skilled he is:

https://www.youtube.com/watch?v=j2EdQD_Eag0

I am quite thankful to the current government for keeping economy in good spirits. Some of the neighboring countries are going through economic meltdown. We have avoided that fate so far.

[Wind_FURY]

Seems like Indian are very happy with their PM. He seems a simple man but are his advisors good or does his mind work really well?
They are smart enough having good terms with US and they are buying oil from Russia and selling it to EU. Very impressive though!

I would give credit to the PM (Narendra Modi), but at the same time I will acknowledge the contribution from the Minister of External Affairs (Subrahmanyam Jaishankar). The latter was quite instrumental in countering the criticism from western nations regarding Russian crude oil imports. You can watch this interview here, to understand how skilled he is:

https://www.youtube.com/watch?v=j2EdQD_Eag0

I am quite thankful to the current government for keeping economy in good spirits. Some of the neighboring countries are going through economic meltdown. We have avoided that fate so far.

It's laughable, but in my opinion, there's nothing wrong with it. Do you know what that practice is simply called? We see it everyday, it's actually around us. It's called the act of doing business. India saw a gap in the market, and took the opportunity to fill that gap. Simple.