BidenDTrounce:
Refiners continue to snap up Russian cargoes at a discount to other grades.

Russian oil exports to India, the world's third-largest crude importer after China and the US, climbed to a record 1.62 million barrels per day (bpd) in February, making Russia India’s largest crude supplier for the fifth straight month, The Hindu reported on Sunday, citing cargo tracker Vortexa.

According to the report, Moscow’s oil exports to the country surged 28% month-on-month and surpassed combined deliveries from Iraq and Saudi Arabia, India’s main suppliers for decades. Imports from Saudi Arabia dropped 16% month-on-month to 647,800 bpd, while deliveries from Iraq amounted to some 939,900 bpd.

Russia now supplies 35% of all India’s oil imports, a significant increase from its share of less than 1% of India's energy market in 2021. New Delhi began to boost purchases of Russian crude shortly after the start of Russia’s military operation in Ukraine and the ensuing Western sanctions. The restrictions resulted in Russia losing its traditional oil buyers from the West, and forced the country to seek alternative markets for its energy by introducing discounts.

“Indian refiners are enjoying a boost in refining margins from processing discounted Russian crude… Refiners' import appetite for Russian barrels are likely to remain robust as long as the economics are favorable, and financial and logistical services to support the trade are available,” Vortexa's head of Asia-Pacific analysis, Serena Huang, said.

India has kept up its Russian oil purchases despite calls from the West to stop the imports. New Delhi has stressed that energy security is a top priority, and it will continue to make its own choices on suppliers. According to the Russian ambassador to India, Denis Alipov, Western sanctions have in fact drawn Russia and India closer together, causing an unprecedented growth in bilateral trade.
https://www.rt.com/business/572490-india-imports-russian-oil-record/

Bloody Indians!!! They're financing Putin's war!
This is totally unacceptable!!! Sanction India now!!

BidenDTrounce:
The Chinese currency has outperformed the greenback by volume of trading on the Moscow Exchange for the first time on record

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India’s Imports Of Russian Oil Hit Record High – Media
https://www.nairaland.com/7597748/indias-imports-russian-oil-hit

The Chinese yuan has overtaken the US dollar as the most traded currency on the Russian stock market for the first time ever, business daily Kommersant reported on Monday.

According to the outlet’s estimates, based on data from the Moscow Exchange (MOEX), the yuan was the most traded currency in February, displacing the US dollar from the top spot.

Statistics showed that, over the month, the volume of Chinese currency trading exceeded 1.48 trillion rubles ($19.6 billion), which is one-third higher than in January. The volume of transactions with the dollar also increased in February, but only by 8% to 1.42 trillion rubles ($18.8 billion). As a result, the yuan accounted for almost 40% of the total volume of trading in major currencies, the dollar’s share was just over 38%, while the euro stood at 21.2%. To compare, the greenback’s trading volume a year ago accounted for 87.6%, the euro for 11.9%, while the yuan for just 0.32%.


Such changes increasingly reflect Russia’s withdrawal from transactions in “unfriendly” currencies against the backdrop of expanding EU and US sanctions, Kommersant wrote.

Meanwhile, Chinese customs data shows trade turnover between Beijing and Moscow over the past year increased by 29.3%, exceeding $190 billion. About half of Russia’s trade turnover with China is in rubles and yuan, according to chief analyst at Sovcombank Mikhail Vasilyev.

Some large Russian companies have already completely switched to trading in yuan with China, some still maintain the parity of the Chinese currency with the dollar. We expect that the share of national currencies used in trade with China will increase in the coming months,” Vasilyev told Kommersant.

The continuing risks of Western sanctions on the Moscow Exchange and the National Clearing Center, as well as the de-dollarization policy pursued by the Bank of Russia, also contribute to the decline in demand for the currency of unfriendly countries,” Vasilyev explained.

Chief analyst at PSB Egor Zhilnikov believes that over time the yuan will gradually become a more liquid currency against the background of both the continued de-dollarization of the Russian economy and the shift in household demand to Asian currencies. Trading volumes on the Russian stock market will rise both in the settlements for ‘tomorrow’ and ‘today,’ he predicted.

https://www.rt.com/business/572520-yuan-dollar-russian-market/

We spoke about how China would start to rotate trade away from the west several years ago. So it continues:

China trade Jan-Feb:

ASEAN: 952bn yuan, up 9.6%

EU: 851bn yuan, down 2.6%

US: 703bn yuan, down 10.6%

BRI countries: 2.12tn yuan, up 10.1%

ParasiteWest:
There cannot be a right government until the West is put in their place. The interest of the West in developing countries is to make sure the developing countries remain impoverished so the citizens of those countries would find migration to the West for 'greener pastures' attractive where they're then exploited and exposed to modern day slavery. Their intent is to keep the West as a 'paradise' in the minds of the manipulated public. The West influenced the politics of Africa directly/indirectly. The right govt will get the 'Gaddafi treatment'

pansophist:
I said it last year that the world will remember February 24th 2022, as the beginning of the cannibalisation of Western hegemony. The date when Russia invades Ukraine.

The biggest mistake they made concerning Russia was the weaponisation of the dollar, now countries are scared to trade with it.

They weaponised usd for lots of smaller countries, the world ignored, but defeating a goat and a tiger are two different thing. Thank you Russia for such a bold step.

Good for India. And oh, their foreign minister Mr S. Jaishankar is the best pm in the world. That guy is too good, and roast western journalists for a living. His most famous statement was this.

"Europe has to grow out of the mindset that it's problem are the world's problems, but the world's problems is not Europe's problem."

I hope India and china can settle their border disputes and viola, the world will experience a rebalancing of global order that was hijacked though evil by the West centuries ago. Welcome to multipolarism.

EKONGKING:


Western countries are pampering India as they know India can checkmate China . The rivalry between China and India is biggest stumbling block in Asia against western countries.

Being based in India for past 15 years ,i can say Indians are the biggest supporters of Russia as they can never forget the help old USSR and currently Russia given to their country ,during its many crises .

U.S.A and western countries are Snakes .

Nigerians especially Presidential candidates who will be contesting 2027 elections should avoid debating in Oxford or Chatham house ,its so demeaning to Africans and Nigerians in particular .

pansophist:


Yes, also Russia helped India during their nuclear weapon program. I only hope Russia can help broker peace between India and China.

Then the West slave vassals (Japan and Korea) will feel isolated in Asia and consider it their interest to fall in line. If this happened, then western hegemony is over completely. Dead.

When the West sent their fleet off the coast of India during the peak of conflict with Pakistan, it was the Soviet Union that reciprocated and stood behind India until the West backed off.

I also wonder why India is part of Quad, and at the same time, BRICS. It just doesn't make sense to me. You can't serve two masters at the same time. India should stay one place, and in Asia.

Also as the biggest democracy in the world, and a one fifth of global population, it's a shame that India is not part of UNSC. It only goes to shows that the world exist in the image of ww2 conquerors.

Who created the rules for themselves, policed by them, and force others to fall in line. This world order must go, it's very undemocratic in nature and structure.

We live in a very interesting time. Just last week, Chinese government have instructed the PLA to be combat ready for war. I wonder why. Is there something the cooking that the public doesn't know? Finger crossed.

EKONGKING:


Its all due to poor relation between India and China.

India needs U.S.A and Japan to keep China in check and on other hand , India fears the combination of Russia and China against them as USA is untrustworthy country .
They are literally walking a tight rope.
Russia is Bridging the gap between these countries ,so as to present a common front against Western powers .

pansophist:


Fear of China, I can understand. But fear of Russia, it's unfounded . And India will be so naive to ever trust the USA. The vaccine issue was a good example of how the West showed their evil face.

They refuse to give India a single shot, while busy criticizing and overblowing casualties. And historically, the West have never been good to India. And India's only usefulness as you rightly said is as a counterweight to China.

India understands this, and I wonder why their foreign policy does not reflect it. But since last year, their behaviour and the words that comes out of India's PM's mouth, I'm having some assurance that India is making or has made a U turn.

pansophist:


Fear of China, I can understand. But fear of Russia, it's unfounded. And India will be so naive to ever trust the USA. The vaccine issue was a good example of how the West showed their evil face.

They refuse to give India a single shot, while busy criticizing and overblowing casualties. And historically, the West have never been good to India. And India's only usefulness as you rightly said is as a counterweight to China.

India understands this, and I wonder why their foreign policy does not reflect it. But since last year, their behaviour and the words that comes out of India's PM's mouth, I'm having some assurance that India is making or has made a U turn.

EKONGKING:


U misunderstood my comment, iam saying Russia also will get pissed when India goes too much into American friendship.

Everything else is spot on bro.

Even Africa is waking from slumber especially Southern part of Africa . Namibia president has just given mouthful hearing to German minister or diplomat recently .


Let the awakening of African people begin .

Regex:


They has oh... Their rift with China maybe just a front, behind, they maybe making deals. As a matter of fact, China is better ally than USA.

pansophist:


I am thinking the same thing. Everything is possible since you have to be extremely manipulative in the art of war.