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India Buys 3 Million Barrels Of Russian Oil At A Discount - Foreign Affairs (8) - Nairaland

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Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by bizhop01: 8:15pm On Mar 19, 2022
America are mad
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Oddfinder: 8:17pm On Mar 19, 2022
generalwo:
.... Hard to Crack yes... But not impossible
Because of Ukrainian? That's the question y'all should start asking. They'll rather let Ukraine burn than have a direct confrontation wit Russia..

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by chaloskyx: 8:19pm On Mar 19, 2022
Naija wont follow suit and fill their tank farms with cheap crude from russia while it lasts mumu country
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by chaloskyx: 8:20pm On Mar 19, 2022
Funny thing is europe is still buying gas and oil from russia but no sanction are placed on them but if its third world and developing nations they would flex their muscles on them
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Oddfinder: 8:28pm On Mar 19, 2022
tctrills:

Don't you get it, Russia is not selling more oil now than before the war. How is that profit? They are not selling more and they are cutting the price to stay relevant. This is not the best of times for the Russians.
I asked earlier, would you love to bet, the Russian economy would fall into recession this year?
Ordinary poor Nigeria, corruption filled nija have being on recession for Atleast 5 years in d last seven 7 years, shey we die? Have we no survived?
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by tctrills: 8:30pm On Mar 19, 2022
Oddfinder:

Ordinary poor Nigeria, corruption filled nija have being on recession for Atleast 5 years in d last seven 7 years, shey we die? Have we no survived?
You are in oblivion as to the number of Nigerians dying daily because of porverty. Just because you can eat tonight does not mean that millions are surviving as well.

1 Like 1 Share

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Munzy14(m): 8:30pm On Mar 19, 2022
It is a case of your economy first before the useless show of power by acclaimed world powers that be... lipsrsealed
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by gambojimeta: 8:40pm On Mar 19, 2022
grin

These ones did not get the memo

Well Putin can't fly to the space station to arrest them

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Nobody: 8:42pm On Mar 19, 2022
Author267:
The west are losing it alreadyyy
The table is changing
Everybody eyes are opening
The earlier we know the truth the better it is for us
And what pains me most is Africans instead of us to unite and fight our common enemies we instead fight ourselves
We all need to wake up


This reminds me of one of our books
Africans in bondage
Its available on amazon


grin

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Drenimarcus(m): 8:47pm On Mar 19, 2022
gambojimeta:
grin

These ones did not get the memo

Well Putin can't fly to the space station to arrest them

Lmaooo dude! This happened 7 years ago! Stop reading from the MSM.

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by cooltola(m): 8:50pm On Mar 19, 2022
olugabbie:



The gas pipeline from Russia to German is still functioning. There is no replacement for Russia gas in german. The Nord stream II pipeline is on hold. But the Nord stream I is still pumping gas to Europe (It runs from Russia to Ukraine Then to German).

The idea that the world will switch to green energy in the next 20-30 years is laughable. It is not going to happen in the next 50 year. The ships that move goods from one country to another will continue to use crude oil products. The green energy equipment like solar, wind mill, batteries are produced using equipments that use crude oil product. Military equipments (the tanks, fighter jets, bombers, submarine, warships e.t.c) are in millions all over the world and they will continue to use crude oil product for the 80-100 years. Infact the US six generation fighter that is being built will still use crude oil product. Likewise the commercial aircrafts.

So countries are still generation power from coal. Country like German is switching from generating power from coal plant to gas plant. This is the reason for the Nord Stream II. They need more gas. German can not do without Russia energy. It economy will cripple if Russia turn off the gas. German and some European states have not successful switch from coal to gas, no to talk of switching from gas other form of clean energy.

It will take a very long time for the World to switch to green energy. For military equipments countries like China and India have hundreds of Russia fighter jets. The engines, spare part e.t.c for these jet can not be gotten from another country except Russia and it is the same for other countries that buy arms from Russia. Russia will continue to sell engines, missiles, spare parts e.t.c to these countries. Also some of the military equipments are not going to replaced any time soon. Several upgrades will be carried out by Russia. The JF-!7 jet Nigeria bought from Pakistan runs on Russian jet engines. The fighter was built by both China and Russia. So indirectly Nigeria part of the importer of Russian arms.

Germany might be dependent on Russia gas today does not mean Germany or other European nations are not actively looking for alternate source of fuel in the nearest future or other nations to buy gas from . Russia might not be the only gas nation out there[b]- I know why many folks equate being anti-Putin do being anti Russian which is not far the truth[/b]. Germany and western nations need Russia to survive but they do not like the PUTIN and his cohorts. The western power are after Putin and his Cohorts not the Russian people, they are hoping the sanctions works to stop Putin and force him out of office. Again the more the economy bites, the more the Putin loose his core supporters. I will just wait for next Russia Election or wait and see how far Putin will last.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Oddfinder: 8:54pm On Mar 19, 2022
tctrills:

You are in oblivion as to the number of Nigerians dying daily because of porverty. Just because you can eat tonight does not mean that millions are surviving as well.
Lol.
Omo i never chop dis nyt sef..but man shal not live by bread alone
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by AMBURSAA(m): 8:54pm On Mar 19, 2022
I'm selling CATFISHES WITHIN ABUJA TO SULEJA , QUATE ME IF YOU WANT TO BUY
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by lalastimlala: 9:02pm On Mar 19, 2022
olas24u:


No matter the passport you have ,youn are still a second class citizen .world rearrangment will help africans i believe.
Let African leaders do their jobs

1 Like 1 Share

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by generalwo(m): 9:07pm On Mar 19, 2022
Oddfinder:

Because of Ukrainian? That's the question y'all should start asking. They'll rather let Ukraine burn than have a direct confrontation wit Russia..
...... USA doesn't care about Ukraine bro..... Nato don't care about Ukraine..... They are only a means to an end... If they burn..... Nato will seek other alternatives..... So we are only sad because the Russian tyrant won't stop killing innocent people......
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by grandstar(m): 9:09pm On Mar 19, 2022
olas24u:

The government simply means the people or large percentage of the people because they have home grown democracies.How ever ,Russia has a smart population ,and they will develop home grown solutions.But other emerging powers already see these sanctions and will protect themselves in the future.And lastly ,most european airlines make more profit from long distance journey,s to Asia and the route path is russia ,so some airline will close shop ,also because the alternative route is far and will be more expensive for the travelling public.so nobody is immune.If he decides to close the pipe of Gas next winter,there are no alternatives to russian gas .

Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Chukwudozzie(m): 9:26pm On Mar 19, 2022
Please educate them, cause sincerely speaking this TL just reeks of crass ignorance & MSM deluded propaganda.

Appleyard:


You just wrote a whole epistle without making much sense.

I ask you again is it every country in the world that ban flights from going to Russia. It's a simple question, answer it.

I said most other countries in the world, and you came up with just Japan and Taiwan. How many countries are there in Asia alone? How many are there in Africa? South/North Latin America? Many countries still do business with Russia and none give a dime about anything. Heck, even the sheepish EU still buys Russian gas and oil as we speak. Who is fooling who?

The world is changing and a new dawn of multipolarism is breaking gradually. China and India alone dwarf the EU, the US, put together in terms of population which drives market share. This is why India and China still doing business with Russia matters so much. Add that to other Asian countries, Africa and Latin America and you will understand. Whatever effect the sanctions is having is but for the short-term, and to be frank, it's not even sustainable for glaring reasons. cool

Horrendous you say? The Rubble have plunged to it's lowest in a decade against the Dollar, but if that is what you called horrendous, then I'm afraid you need to do some fact check.

Iran, North Korea, Venezuela have been in worst sanction but they still thrive and even emerge stronger in some cases. Russia has a far more dynamic economy than the aforementioned countries, and have emerged from similar worst situations in time past. Watch and see who blinks first. Sanctions are a two edged sword that hurt both sides in a brawl. Prices of commodities are already up across Europe. The UK is already advising workers not to drive their vehicles all the time to save on the cost of rising gas/oil prices. German Chancellor who ignorantly boasted that Germany would simply replace Russia with UAE should Russia turn off the pipes have gotten his delusion shattered. The UAE have said they lack the capacity and the capability to replace RUSSIA in the European market. cool The US Federal Reserve has already raised interest rates to cushion the rising inflation made worse by the Russian brouhaha. Biden is still looking for replacement for the ban Russian oil import even as prices continue to soar. UAE and Saudi Arabia are refusing his calls. Some European countries are already changing from ouright aggressive tone to a 'let's be careful' rhetorics. Because the reality is hitting gradually. It is only a myopic ediot who thinks that a country like Russia can be crippled with economic sanctions. The recent geopolitical play by Saudi Arabia, UAE, Qatar, India, and Pakistan has sent signals to those who think they hold all the aces when it comes to bullying nations. A new era is unfolding before our very eyes.

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olugabbie(m): 9:29pm On Mar 19, 2022
cooltola:


Germany might be dependent on Russia gas today does not mean Germany or other European nations are not actively looking for alternate source of fuel in the nearest future or other nations to buy gas from . Russia might not be the only gas nation out there[b]- I know why many folks equate being anti-Putin do being anti Russian which is not far the truth[/b]. Germany and western nations need Russia to survive but they do not like the PUTIN and his cohorts. The western power are after Putin and his Cohorts not the Russian people, they are hoping the sanctions works to stop Putin and force him out of office. Again the more the economy bites, the more the Putin loose his core supporters. I will just wait for next Russia Election or wait and see how far Putin will last.

The West wants to democratize the world. Russia is not a democratic state. Like wise China. The West is anti any country that is not democratize. As long as China and Russia remain undemocratic, the West will continue to push for their fall, irrespective of the kind of leader in power. They are against their political model not the leaders.

The term 'world order' means a world where all the countries are democratize.

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Oddfinder: 9:33pm On Mar 19, 2022
generalwo:
...... USA doesn't care about Ukraine bro..... Nato don't care about Ukraine..... They are only a means to an end... If they burn..... Nato will seek other alternatives..... So we are only sad because the Russian tyrant won't stop killing innocent people......
U should also be sad that Ukraine offered herself as a willing lamb to be slaughtered
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by colestephan86: 9:35pm On Mar 19, 2022
NOETHNICITY:
embarassedChina will also definitely buy more Russian oil.
Western effort to ostracise Russia is doomed to fail. This is only just the beginning
Russia will feel the heat of the western imposed transition. But it will eventually pull through and come out better and stronger
Joe Biden you see your life
The funny thing is many of those western companies may never have that strong presence in Russia again, many chinese companies will take advantage of the sanctions and expand into Russia and more eastern European countries.

2 Likes

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Kingpin1000: 9:38pm On Mar 19, 2022
lalastimlala:
All these mumu Nigerians campaigning against America go soon collect. Every Nigerian that hold Canada, USA and British Visa's should be immediately revoked and returned back to Nigeria. Let them go to Russia, China and India. Mumu people.
As a guy man, it is easier to make it in China than India, how many hustlers dey go US these days. You dey for one hurt dey type with free mode.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by ledaman: 9:38pm On Mar 19, 2022
gambojimeta:

Yeah right. That's why he can't defeat small Ukraine in 3 weeks plus grin
am sure you were still in Nursery when America,UK, and other European countries attack Iraqi it took them more than 2 month to overthrown Saddam Hussain. Mind you Russian army are already in Kyiv the capital of Ukraine just less than a month. And he can't wipe all the citizens. Am very sure you don't know the rules of engagement. Indomie kid grin

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by generalwo(m): 9:41pm On Mar 19, 2022
Oddfinder:

U should also be sad that Ukraine offered herself as a willing lamb to be slaughtered
..... Ukraine did not offer herself to be slaughtered.... Russia found an excuse to kill its neighbors....
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olas24u(f): 9:43pm On Mar 19, 2022
grandstar:


Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.
Have you heard about the euro asia economic forum,the shangai coporation ,Brics ,BRI etc.This are new markets and alliances that will cushion effects of sanctions on Russia.The sanctions will empower russia and its citizens the more.You are writing about international trade,russia became a memeber of the WTO just recently few tears back it has home grown cosumers ,that can consume what is produced.just watch the new world envolve.Russia pumps 7million barrels per day,no country can replace that output easily.Higher oil and gas prices in europe will lead to protest with effects on election outcomes.

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Mrtaye: 9:45pm On Mar 19, 2022
Quelme:
Bharat (India) is a sovereign state with over a billion citizen to look after. Imagine wanting to sanction a sovereign country for trading with another country. Omo, this hypocrisy and double standard of the west stinks to the high heaven. This is simply a case of national interest. Your enemy is not my enemy. Bleep US and their lap dogs!!!!
But Ukraine that was invaded isn't a sovereign nation
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Kingpin1000: 9:47pm On Mar 19, 2022
PhantomProbe:

Imagine invading a sovereign country for associating with a group, simply because you don't like or feel threatened by the group.

This is the situation:
Two guys were staying in one building, one is a cultist, the other is not, the one who is not a cultist was a buddy to his cultist neighbor until He became friends with a member of a rival gang. The non cultist starts bringing his new friends to his apartment and they start saying demeaning things about his cultist neighbor. His cultist neighbor called and warned him that He won't take any of that and will deal with him and if his cultist friends say anything, he will also attack them. The non cultist neighbor went and told his cultist friends and they told him, his neighbor can't do anything to him. His cultist neighbor started attacking him and gave instruction that anyone who want to involve will receive his wrath. After the beating the non cultist neighbor went to his new cultist friends and told them that he wants to join their cult but they refused became, they don't want to go to war with their deadly rivals because of him.this is the situation Zelensky finds himself.

1 Like

Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olas24u(f): 9:49pm On Mar 19, 2022
grandstar:


Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.
NATO nations amount to at 15 percent of the world’s population,putin does not like power ,but loves his country so much,he single handedly built the country back after the collapse of the union.very patrotic, KGB agent with focus on America for many years.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olas24u(f): 9:53pm On Mar 19, 2022
grandstar:


Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.
The end of the petrodollar is at hand and that is the certified nail in the coffin of the indispensable Hegemon.it will impact most of Africa ,that is what many of us do not get.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olas24u(f): 9:56pm On Mar 19, 2022
grandstar:


Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.
ultimate game changer. Why is nigeria doing swap deals ?crude for refined oil ,with no refineries for more than 25 years?And you dont see anything wrong and you think its the leadership?we are victims of colonization.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by Oddfinder: 9:57pm On Mar 19, 2022
generalwo:
..... Ukraine did not offer herself to be slaughtered.... Russia found an excuse to kill its neighbors....
Wao..continue watching bbc
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by olas24u(f): 9:59pm On Mar 19, 2022
grandstar:


Homegrown solutions and poverty can not be divorced. They are "make-do" schemes and usually a poor replacement for the real thing.

International trade is based on a win/win. Basically, I cook the food, you do the dishes. Export your strengths to others, and import their strengths into yours. I'm talking here about comparative advantage.

Some years back, the governor of Ondo state, was miffed when the North stopped shipment of food products to the South. This angered the then governor of Ondo state, Olusegun Mimiko, who decided to start the planting of peppers and other ingredients in Ondo state.

I laughed at the idea. I knew it was going to fail. Why? Because it is not our strength. I'm not doubting Ondo can produce these crops but not to the degree up North. The scheme failed. Ondo is good in Cocoa, Kola nuts and plantain for instance. The states "exports" several trailers of these products to the North almost on a daily basis.

Home grown solutions rarely ever match what it replaces. And even when it does, it's in economies that are still wide open for business and not one under heavy sanctions like Russia. The home grown solution is instituted through protectionist policies. For instance, China limited the use of foreign credit card providers like Visa and Mastercard. It now has homegrown giants like Union pay.

No matter how smart a people are, you need the right economic environment to succeed. Look at Nigerians: the same Nigerians, who are failing here, when they emigrate to the US, they excel.

Russia is largely dependent on commodities. This is a shame considering the wealth of education it had when the Soviet Union collapsed. I am sure it still has a massive pool.

Unfortunately for the economy, Putin has focused more in keeping himself in power for life, and supporting his corrupt cronies and himself has made Russia a rent seeker paradise and a commodity exporter. If at the best of times, it could not harness the power of its education pool, is it under chronic sanctions it will achieve that? Please perish the thought.

crashing Russian markets,ending foreign investment, destroying the ruble, a full trade embargo, expelling Russia from the community of nations,and many more are normal excercies ,Iran has been dealing with the same thing for four decades, and survived.
Re: India Buys 3 Million Barrels Of Russian Oil At A Discount by int0x80(m): 10:17pm On Mar 19, 2022
posty56:
India has always been in good terms with Russia, United States should stop acting like teenage girl their sanctions are getting weaker and weaker as countries look for ways to bypass them especially the petrodollar , they should be building relationships not spoil them,they should learn from China and act cunning.
US will never act cunning, that's why they are the world power. Someone has to "Police" the world, else there would have been a second wave of colonization especially in Africa. There has to be a world "Order" period!

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