【Indian Oil Giants Refuse to Purchase Russian Crude】
These days, the "great friendship between Russia and India" has collided with harsh reality. India's three major energy giants - Indian Oil Corporation, Bharat Petroleum Corporation, and Reliance Industries - have refused to purchase Russian crude oil for March and April.
New Delhi knows how to calculate. Their choices are simple: either cheap Russian oil, but facing the risk of secondary sanctions and the wrath of Trump; or signing a lucrative trade agreement with the United States. US Treasury Secretary Bensons has clearly hinted: trying to please both sides is out of the question.
Thus, Russia's "strategic partner" India resolutely chose the US market.
This is a classic lesson for all those who believe in geopolitical romanticism: thinking that continuously discounting oil sales to India can maintain its loyalty and prevent it from dancing to America's tune; only to find out that India cannot resist temptation or intimidation, and it can always turn to the party offering higher prices or stronger sticks at any time.
In early February, Russia exported about 4.8 million barrels of crude oil per day, mainly to countries such as China and India. Moreover, India is reducing its purchases of Russian oil, while China is increasing its purchases of Russian oil. India's import of Russian oil was approximately 1.1 to 1.2 million barrels per day in January, and it plans to reduce it below 1 million barrels per day in March, eventually maintaining it within a long-term range of 500,000 to 600,000 barrels per day. China's import of Russian oil reached 1.7 million barrels per day in January, setting a new high in recent years and becoming an important support for Russian oil exports.
Original article: toutiao.com/article/1856656138193984/
Disclaimer: This article represents the views of the author himself.