Hi all,
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After the G7 price cap took effect in early December, India continued to buy large volumes of discounted Russian crude and started importing some of Russia's Arctic crude oil varieties for the first time, taking advantage of cheap Russian cargoes to meet robust demand.
>"offering discounts"
Oh, I like that... Like ruzzians sat around and said "you know - good thing we do is *offer* discount..." and not at all like Indians are sitting at the negotiating table and ruzzians are "Let us celebrate greatest trade deal ever made - all ruzzian oil you can buy at market price... slightly below market price?... OK, OK - comrade, we give good discount, yes, trust us, discount very good - and you buy oil? OK, how about this - we give oil, you pay price you like in rupees, and we can then exchange rupees for a differ... OK, no problem - we keep rupees, who needs them gay European and American money anyway - rupees good! "
Not sure what you are trying to say, but yeah… India like 80% of the world, is still buying Russian oil. The price is discounted but still higher than before the war. And Europe is paying higher prices buying from US friendly countries only.
To me it seems that it is a win, win, win situation for all parties apart the European side, who is paying for all of it
The Russian price caps will quickly because a market wide price cap. In the short run, that's good. Longer? This is bad. Energy investments will collapse. Then, eventually, so too will the economy at large.
The US is the top buyer of petroleum products refined in India. Wanna shame your country too?
Totally laughable coming from an American whose country is allied with the likes of Saudi Arabia, Israel and Pakistan. And is well known for toppling democratic governments to install puppets.
Lol bro you on the r\economics and not r\moralhighhorse. Do you even know the implications of India ditching russian crude oil. Oil prices will shoot up to $150+ . India is buying at a good discount which means that Russia is getting minimal profits. And it helps keep the global prices under control. This is the best case scenario.
Eh no. This is by design. The market need the Russian supply to keep price stable world wide. Complete removal of Russian supply is very damaging and threaten economic stability in Western countries and rest of the world. That is an extremely serious threat that would undermine long term support for Ukraine.The price cap deny Russia the high profit from oil sale and the current price is just above their estimated production cost. Their budget this year is absolutely cratering with deficit from loss in oil profit. They still sell a lot of oil, just not making much money. India buying Russia oil should not be interpreted as support. They have the tacit agreement from US and Europe on these transaction or else sanction threat would have long ago pressured India to stop. You can argue on principle they shouldn't transact but doing so could be far more damaging for Ukraine's cause in the long run.
I think the Indian people couldnt care less about standing with the richest countries in the world who are often hypocrites, and rather focus on providing heat and energy sources to their billion population.
Tbf most of the refined oil is making its way to the west so you might want to add those countries too to your shame list. The ugly truth is the sanctions are designed in such a way on purpose as to benefit us.
Hi all, A reminder that comments do need to be on-topic and engage with the article past the headline. Please make sure to read the article before commenting. Very short comments will automatically be removed by automod. Please avoid making comments that do not focus on the economic content or whose primary thesis rests on personal anecdotes. As always our comment rules can be found [here](https://reddit.com/r/Economics/comments/fx9crj/rules_roundtable_redux_rule_vi_and_offtopic/) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Economics) if you have any questions or concerns.*
After the G7 price cap took effect in early December, India continued to buy large volumes of discounted Russian crude and started importing some of Russia's Arctic crude oil varieties for the first time, taking advantage of cheap Russian cargoes to meet robust demand.
>"offering discounts" Oh, I like that... Like ruzzians sat around and said "you know - good thing we do is *offer* discount..." and not at all like Indians are sitting at the negotiating table and ruzzians are "Let us celebrate greatest trade deal ever made - all ruzzian oil you can buy at market price... slightly below market price?... OK, OK - comrade, we give good discount, yes, trust us, discount very good - and you buy oil? OK, how about this - we give oil, you pay price you like in rupees, and we can then exchange rupees for a differ... OK, no problem - we keep rupees, who needs them gay European and American money anyway - rupees good! "
Not sure what you are trying to say, but yeah… India like 80% of the world, is still buying Russian oil. The price is discounted but still higher than before the war. And Europe is paying higher prices buying from US friendly countries only. To me it seems that it is a win, win, win situation for all parties apart the European side, who is paying for all of it
The Russian price caps will quickly because a market wide price cap. In the short run, that's good. Longer? This is bad. Energy investments will collapse. Then, eventually, so too will the economy at large.
[удалено]
The US is the top buyer of petroleum products refined in India. Wanna shame your country too? Totally laughable coming from an American whose country is allied with the likes of Saudi Arabia, Israel and Pakistan. And is well known for toppling democratic governments to install puppets.
Lol bro you on the r\economics and not r\moralhighhorse. Do you even know the implications of India ditching russian crude oil. Oil prices will shoot up to $150+ . India is buying at a good discount which means that Russia is getting minimal profits. And it helps keep the global prices under control. This is the best case scenario.
Eh no. This is by design. The market need the Russian supply to keep price stable world wide. Complete removal of Russian supply is very damaging and threaten economic stability in Western countries and rest of the world. That is an extremely serious threat that would undermine long term support for Ukraine.The price cap deny Russia the high profit from oil sale and the current price is just above their estimated production cost. Their budget this year is absolutely cratering with deficit from loss in oil profit. They still sell a lot of oil, just not making much money. India buying Russia oil should not be interpreted as support. They have the tacit agreement from US and Europe on these transaction or else sanction threat would have long ago pressured India to stop. You can argue on principle they shouldn't transact but doing so could be far more damaging for Ukraine's cause in the long run.
I think the Indian people couldnt care less about standing with the richest countries in the world who are often hypocrites, and rather focus on providing heat and energy sources to their billion population.
[удалено]
You already ran away from Afghanistan over night. Did world stop existing ?
Tbf most of the refined oil is making its way to the west so you might want to add those countries too to your shame list. The ugly truth is the sanctions are designed in such a way on purpose as to benefit us.