Well played, India. From Andrewe Korybko at theautomaticearth.com:
Indian media revealed in mid-January that their country had been processing and re-exporting discounted Russian oil to the West, including the US, in a move that discredited the spirit of that de facto New Cold War bloc’s anti-Russian sanctions. Most observers brushed off those reports since they went against their worldview wherein it was taken for granted that the US-led West’s Golden Billion wouldn’t ever relieve pressure on Russia by having India serve as the middleman in their oil trade.
According to an expert quoted by Bloomberg in their latest report titled “Oil’s New Map: How India Turns Russia Crude Into The West’s Fuel”, “India’s willingness to buy more Russian crude at a steeper discount is a feature, not a bug, in the plan of Western nations to impose economic pain on Putin without imposing it on themselves.” Another one was cited as saying that “US treasury officials have two main goals: keep the market well supplied, and deprive Russia of oil revenue.”
That other expert added that “They are aware that Indian and Chinese refiners can earn bigger margins by buying discounted Russian crude and exporting products at market prices. They’re fine with that.” This insight from Bloomberg, which is held in high regard as one of the world’s premier business outlets, completely shifts the paradigm through which observers interpret the energy dimension of the Golden Billion’s anti-Russian sanctions.