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Indian Refiners Increase Russian Crude Purchases Despite Tariffswww.zerohedge.com/commodities/indian-refiners-increase-russian-crude-purchases-despite-tariffs
372 sats \ 15 comments \ @Coinsreporter 30 Aug econ
Despite the hiked tariff, due to India’s continued purchases of Russian oil, Indian refiners are set to raise their imports by between 150,000 barrels per day (bpd) and 300,000 bpd in September, or up by 10-20% compared to August volumes, anonymous trade sources involved in the deals told Reuters.
Russia’s crude volumes for exports have jumped in recent weeks, as Ukrainian drone strikes on Russian refineries have crippled Russia’s processing capacity.
As a result, Russian sellers need India to ship more crude abroad and are again offering deeper discounts.
India won't now down to Trump.
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11 sats \ 0 replies \ @petertodd 30 Aug
Russia’s crude volumes for exports have jumped in recent weeks, as Ukrainian drone strikes on Russian refineries have crippled Russia’s processing capacity.
This is the key thing to understand: Ukraine has knocked out about 20% of Russia's oil refining capacity. So they're exporting crude oil instead at low prices. Prices so low it's still worth it for India to buy.
The situation is bad for Russia, good for Ukraine, and for now, good for India too.
In the long run its likely that Ukraine will cut off this supply to as they run out of refineries to blow up and move to other targets. That will be bad for India. But the onus is on them to stop supporting Russia.
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21 sats \ 3 replies \ @grayruby 30 Aug
More rate cuts coming.
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40 sats \ 1 reply \ @Coinsreporter OP 30 Aug
Yeah surely. Didn't see you already posted about it. I'm gonna change it with another post.
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21 sats \ 0 replies \ @grayruby 30 Aug
It's ok. Mine was mostly a troll of my home country not so much a post about the data.
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0 sats \ 0 replies \ @Solomonsatoshi 30 Aug
The point is close to where FED can cut rates but the market will not follow. US Debt is reaching unsustainable levels and the market for USTs is insufficient to absorb the growing deficits. Rising rates could now swiftly tip the US into insolvency- this is what Trump is seeking to avoid but it is increasingly difficult. Tariffs provide a short term income flow but cripple the US economy in the medium term. Trump in crisis mode managing the decline of US hegemony.
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21 sats \ 5 replies \ @Undisciplined 30 Aug
Good for India. To the best of your ability, try to stay out of other countries' bullshit. Nothing good comes from it.
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42 sats \ 2 replies \ @Coinsreporter OP 30 Aug
I think Modi (and gov) is doing a good job by not commenting anything on Trump's taarif propoganda and other things. India's stand looks quite bold but it's working.
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21 sats \ 1 reply \ @Undisciplined 30 Aug
Once upon a time, that was the US's approach to foreign affairs
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49 sats \ 0 replies \ @Coinsreporter OP 30 Aug
Trump should've encouraged India and be a partner to avoid China. But he's been lying a lot of things including being a peacemaker in India-Pak recent clashes. Also, his way of talking is not liked by any of the Indians.
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11 sats \ 1 reply \ @petertodd 30 Aug
If India wanted to stay out of this they'd stop sending money to Russia and calling Putin a "friend".
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42 sats \ 0 replies \ @openyoureyes 30 Aug
India is not a vassal. They are not sending money to russia. They are using the free market and trade. It is in their own interest. You are sending money to ukraine and get nothing back for it. You behave based on ideology and against free market. Do not judge over india. You behave like a anti bitcoiner.
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0 sats \ 0 replies \ @Solomonsatoshi 30 Aug
China, Russia, Iran and now India. The tables are turning and the USA is increasingly exposed as a paper tiger without much real influence in the world where now China dominates global trade and BRICS nations are increasingly challenging US hegemony. Chinas CIPS and mBridge trade payments protocols mean BRICS nations can now continue to trade outside of SWIFT and SWIFT sanctions are increasingly ineffective. Saudi Arabia has already joined BRICS, and mBridge. Trump is managing the decline of US hegemony.
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0 sats \ 2 replies \ @Solomonsatoshi 30 Aug
The Petrodollar really is under existential threat.
Primarily from China who have supported Russia and Iran by buying their oil and supplying them with the full range of manufactured goods required to maintain a modern state and to wage war on US allies and associates. India has long been aligned with Russia and is drawn into the Chinese led axis against western imperialism.
No major economy can afford to alienate China now that China has won the trade war- and now that the Chinese mercantile economy is dominant China must and is seeking greater power and control over tertiary infrastructures like international trade payments and protocols. India has chosen the mercantile strength of China aligned to the military force of Russia.
US petrodollar hegemony is not far off being toppled. Fast approaching USD$40T DEBT= Insolvency. Who will buy the $7T USTs that need to be sold before Christmas???
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0 sats \ 1 reply \ @openyoureyes 30 Aug
Nobody. Like in WW2. But they will find a way out like the last time. They will start a war like they always do. But a real one, not small interventions like all these wars started by america after ww2, where they just dropped bombs on defendless people. Where they lost more soldiers from frindly fire then from enemy fire. Against russia, iran or even china? All these efforts to weaken russia, iran and china are strategic and aim to fight the nations in the end. But this time not against a weakened nazi germany that fought a long time against russia. And all this war only for the holy fiat, the status of the dollar world currency. They only need some event like 9/11 or pearl harbour so that the sheeple voluntarily go to army. The whole western world is build on debt that can not be payed back and is only designed to take over the rest of the world, like a virus. Its either expansion or hyperinflation.
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0 sats \ 0 replies \ @Solomonsatoshi 30 Aug
Jewish shadow bankers have lurked behind the wests imperialists for centuries.
#1199582
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