By Sanxuan

India has started buying Russian oil again.

Data shows that after the United States granted a short-term exemption for Russian oil, India resumed purchasing Russian oil, and the volume of purchases has nearly doubled compared to previous levels, reaching 1.8 million barrels per day.

Russian Oil Has Become a Hot Commodity

Putin clearly doesn't mind the fact that India "stabbed him in the back" before. After all, it's foolish not to make money. Although Russian oil is still sold to India as usual, the price is no longer the same as before.

Due to the situation in the Middle East, the price of Urals crude oil once soared to $100 per barrel earlier this month, while the figure was only $58.16 last month. In other words, the price of Urals crude oil has almost doubled, and even though it has slightly declined, it remains at a high level of around $90 per barrel.

Under the context of rising oil prices, India has bought more Russian oil, and naturally, Putin is happy to make this deal. No one would go against money.

Back then, Russian oil was subject to Western sanctions, and to open up sales channels, Russia had to sell oil at a discount, and India took full advantage of this. Later, under pressure from the US, Modi resolutely abandoned Putin, and now he is eagerly turning back to increase the purchase of Russian oil, which is quite amusing.

Friendship Lies in Business

It's not just India that is seeking to buy Russian oil; other Asian countries are also doing so, including Japan, South Korea, the Philippines, Thailand, Vietnam, and Indonesia. These countries mostly participated in the sanctions imposed by the US and Europe on Russia, and even if they didn't participate, they have reduced or completely stopped energy trade with Russia since the outbreak of the Ukraine conflict.

Now that the US has made an exception, Asian buyers are once again turning to Russia, expressing willingness to purchase Russian oil. This week, the South Korean government decided to temporarily set aside geopolitical considerations and try every means to find alternative oil suppliers, with Russia included. If South Korea restarts importing Russian oil, it will be the first time in four years.

The Japanese government also immediately stated after the US announced the exemption that it would consider all factors comprehensively and decide whether to restart importing Russian oil.

Naturally, although some want to buy, Russia may not want to sell, especially Japan. After Takahashi Hayato came to power, she made a series of dangerous provocations against neighboring countries, which Russia has watched closely, and because of this, Russia has criticized the Japanese government frequently. On the Ukraine issue, Japan has also cooperated with Western countries to target Russia.

Japan Also Wants to Buy Russian Oil

Now the initiative lies with Russia. Even if Japan has money, it may not be able to get Russian oil, but if they are willing to pay more, it can still be negotiated.

As Putin said, everything is priced by the market. Some buyers have offered higher prices, making other buyers less competitive. He said this to the EU, and at that time, many analysts believed the EU would resume purchasing Russian oil, but later von der Leyen clarified that it was not yet time to relax the sanctions on Russia.

Thailand, Indonesia, and other countries are also actively contacting Russia, hoping to purchase Russian oil. Southeast Asian countries generally lack oil reserves, and in this context, Russian oil is obviously very popular.

An oil tanker carrying Russian oil is moored along the Indian coast

Experts estimate that if the situation in the Middle East continues to be tense, Russian oil exports will increase by 5% to 7% over the next few months. For Russia, which has suffered from sanctions and war, this is undoubtedly a heartening piece of news.

At the same time, Ukraine and the EU are engaging in a battle of wits, as some EU countries are in favor of purchasing Russian oil. According to the Prime Minister of Belgium, everyone actually thinks this way, but few people dare to say it out loud.



Original: toutiao.com/article/7619239830156837426/

Statement: The article represents the views of the author alone.