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Russia has never been richer after selling $37 billion in oil to India last year
Posted on 2/24/24 at 4:48 pm
Posted on 2/24/24 at 4:48 pm
quote:
Russia has never been this flush with cash — and it's partly thanks to India, which snapped up a monster amount of Russian crude last year.
Russia's federal revenue soared to a record $320 billion in 2023 — an amount partly attributable to India's huge appetite for cheap Russian oil, according to a new report from the Centre for Research on Energy and Clean Air shared with CNN.
The nation bought $37 billion of crude from Russia last year, the report said, around 13 times what it purchased from Russia before the war in Ukraine.
India has been a huge customer of Russian crude since Moscow began its invasion of Ukraine. After being slammed by Western trade restrictions, Moscow has doled out hefty discounts to its allies, like India and China, who have since gobbled up huge amounts of oil from the nation.
quote:
The two countries have replaced most of Russia's Western customers, with Russia diverting nearly all of its oil shipments to China and India alone, a top official said last year. In particular, Russia accounted for 35% of India's oil purchases in 2023, according to an analysis from S&P Global.
India, one of the largest oil refiners in the world, is also known to process Russian crude before passing it off to Western nations, which banned Russian crude in late 2022. India likely exported around $1.3 billion of oil products of Russian origin to the US from December 2022 to the end of 2023, the CREA analysis found.
Meanwhile, $9.1 billion of Russian oil products were indirectly purchased by nations who are enforcing sanctions on Russia — 44% more than the amount purchased the previous year, the think tank said.
India, though, is facing mounting pressure to comply with Western trade restrictions — a possible reason Indian exports of Russian oil just slumped to their lowest level in a year in January.
quote:
There are also signs that the nation is turning away fully loaded tankers of Russian oil. A sanctioned tanker holding Russian crude was reported to drift off the coasts of India late last year as Indian officials considered whether to let the ship dock. Five other oil tankers turned away from India after idling near its shores for about a month, Bloomberg reported.
https://markets.businessinsider.com/news/commodities/russia-economy-oil-sales-india-ukraine-war-moscow-western-sanctions-2024-2?op=1
China buys Russia's Sokol crude as Indians turn away amid concerns
https://www.business-standard.com/world-news/china-buys-russia-s-sokol-crude-as-indians-turn-away-amid-concerns-124022100483_1.html
Posted on 2/24/24 at 4:53 pm to loogaroo
This is shocking, I'm shocked as F
Posted on 2/24/24 at 4:55 pm to loogaroo
But weewee, citizenk, doubleb, and gop_tiger said Russia was out of money
And food, ammo and military equipment
And food, ammo and military equipment
Posted on 2/24/24 at 4:56 pm to loogaroo
But big bad awesome Joe just put 600 sanctions on Putin!
Posted on 2/24/24 at 5:14 pm to loogaroo
I have to shake my head. $37 billion is a huge amount to the media when discussing other countries. And it really is a large chunk of cash to the vast majority of countries.
"Russia's federal revenue soared to a record $320 billion in 2023" Massive.
Drop in the bucket compared to the US "budget" however.
To put it another way, we're looking at sending another $95B to Ukraine. Russia's yearly federal revenue was $320b.
*It looks like Ukraine's TOTAL revenue for 2019 was $37 billion. And we have sent them how much the past couple years?
"Russia's federal revenue soared to a record $320 billion in 2023" Massive.
Drop in the bucket compared to the US "budget" however.
To put it another way, we're looking at sending another $95B to Ukraine. Russia's yearly federal revenue was $320b.
*It looks like Ukraine's TOTAL revenue for 2019 was $37 billion. And we have sent them how much the past couple years?
Posted on 2/24/24 at 5:17 pm to SDVTiger
quote:
But weewee, citizenk, doubleb, and gop_tiger said Russia was out of money
You noticed how they rushed into the other threads?
I don't understand their positions.
Everything this administration is doing is helping Russia. We want to give Ukraine more money and increase the sanctions that are helping their enemy. Looks to me like we are funding both sides while bleeding the American people dry.
Posted on 2/24/24 at 5:24 pm to BuckyCheese
quote:
Drop in the bucket compared to the US "budget" however.
To put it another way, we're looking at sending another $95B to Ukraine. Russia's yearly federal revenue was $320b.
*It looks like Ukraine's TOTAL revenue for 2019 was $37 billion. And we have sent them how much the past couple years?
How many dead Russians for the 100+ Billion we have sent to Ukraine?
I recall the good old days when Uncle *Joe threatened to withhold a measly 1B if they didn't fire a certain prosecutor. Less that 10 years ago.
My how times have changed.
Posted on 2/24/24 at 5:25 pm to BuckyCheese
quote:
To put it another way, we're looking at sending another $95B to Ukraine. Russia's yearly federal revenue was $320b.
*It looks like Ukraine's TOTAL revenue for 2019 was $37 billion. And we have sent them how much the past couple years?
Putin is laughing his arse off. This administration and congress owes him a debt of gratitude for allowing the money laundering machine to go on this long. And... Why would he quit? This war is good for both.
Posted on 2/24/24 at 5:27 pm to loogaroo
Does this mean they can buy nicer shovels to fight the Ukrainians with? /sarcasm font
Posted on 2/24/24 at 5:35 pm to Strannix
Check the value of the ruble. Fraction of its all time high. Which is why Tucker could by that many groceries fir $200.
Posted on 2/24/24 at 5:41 pm to BayouBlitz
quote:
Check the value of the ruble. Fraction of its all time high. Which is why Tucker could by that many groceries fir $200.
And what is your dollar buying?
Posted on 2/24/24 at 5:50 pm to BayouBlitz
quote:that fraction being roughly 3/4ths
Check the value of the ruble. Fraction of its all time high
its also +90% since its most recent low in June 2022, after the first round of Western sanctions hit
not sure what the point was that you thought you were making
Ruble vs USD
Posted on 2/24/24 at 5:53 pm to BayouBlitz
quote:
Check the value of the ruble. Fraction of its all time high. Which is why Tucker could by that many groceries fir $200.
And what is your dollar buying?
Posted on 2/24/24 at 5:57 pm to Dog Tree
quote:
And what is your dollar buying?
A frickload more than a ruble.
The ruble has lost a ton of value vs USD since the war began.
Posted on 2/24/24 at 5:59 pm to FearlessFreep
quote:
not sure what the point was that you thought you were making
Bayoublitz is a libtard moron
Posted on 2/24/24 at 6:06 pm to JohnnyKilroy
Russia keeps the ruble cheap to make their exports more competitive. They don’t have much foreign debt so it works out for them.
Posted on 2/24/24 at 6:08 pm to SDVTiger
quote:
weewee, citizenk, doubleb, and gop_tiger
Posted on 2/24/24 at 6:17 pm to Lima Whiskey
quote:
Russia keeps the ruble cheap to make their exports more competitive
Good lord.
Posted on 2/24/24 at 6:22 pm to FearlessFreep
The ruble was .043 vs the usd at its highest. It's now .011.
So yeah, Russia is doing great vs the USD.
Idiot.
Also Russia's inflation is higher.
Sorry about facts.
So yeah, Russia is doing great vs the USD.
Idiot.
Also Russia's inflation is higher.
Sorry about facts.
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