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Europe bought Russian oil via India at record rates in 2023 despite Ukraine war (m.timesofindia.com)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 30 points 10 months ago

Capitalism isn't disrupted by war, it feeds on it.

[–] [email protected] 24 points 10 months ago (1 children)

No, no, see... They bought Indian oil from India. You know India, known for their oil reserves. Totally not Russian I tell you.

[–] [email protected] 12 points 10 months ago (1 children)

India sells oil from India to EU and sells oil from Russia within India. Everyone happy except Ukraine.

[–] [email protected] 4 points 10 months ago

I'm sure Europeans are absolutely thrilled to be paying a huge markup on the oil they used to get directly from Russia.

[–] [email protected] 13 points 10 months ago (1 children)

"Record rates" to what we used to buy from India, which is almost nothing. EU oil imports from India increased from 111k barrels a day to 236k barrels a day, while we used to import something like 4.5 million barrels of oil per day straight from Russia.

But writing "EU now imports 3% of the oil it used to from Russia through India" would hardly be news worth writing about.

[–] [email protected] 3 points 10 months ago

You're comparing crude oil to refined products.

[–] [email protected] 6 points 10 months ago* (last edited 10 months ago)

India injected freedom & democracy into the oil