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11 sats \ 0 replies \ @petertodd 30 Aug \ on: Indian Refiners Increase Russian Crude Purchases Despite Tariffs econ
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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