Bessent told CNBC that Russian oil now accounted for 42 per cent of India’s total oil imports, up from less than 1 per cent before the war. He contrasted that with China, where Russian oil imports rose modestly to 16 per cent from 13 per cent.
US Treasury chief Bessent accuses India of profiteering on Russian oil
Submitted 4 days ago by schizoidman@lemmy.zip to globalnews@lemmy.zip
MrEff@lemmy.world 4 days ago
This guy is so dumb. India said they would do that when the war started. They had a whole moment where they came out and very publicly even layed out all the cards and said what they were going to do, and now he is mad that they have done and continue to do exactly what they said they would do. India has high energy needs with their billion plus people and transitioning to a more energized population. For as much green energy India is installing, they can’t keep up with the growing demand and see this as a cheap stopgap. And as much as he is trying to claim that India is just buying cheap Russian crude oil and simply reselling it at a markup as a middle man to skirt the sanctions, they are not. India runs one of the world’s largest refineries. They are raking Russia over the coals because they are now the only bulk buyer and have forced the lowest price because of it. The Indian PM is making smart moves for the good of his people, he doesn’t care about the war in Ukraine, if anything he wants it to drag out as long as possible.