Russian Lifeline Severed - Joe Blogs

India has become Russia’s biggest buyer of crude oil, taking over one-third of all its imports — worth more than $50 billion a year. Much of this crude is refined in Indian plants and then sold on to Europe as diesel, jet fuel, and gasoline.

That trade has delivered billions in profits for Indian refiners — and crucial revenues for Moscow. But now the EU’s sanctions package closes the loophole, banning imports of refined fuels made from Russian crude, even if processed in third countries.

In this video, I break down:

• How much crude oil India is buying from Russia
• The profits India makes exporting Russian oil products to Europe
• How much revenue Russia is earning from these flows
• When the EU’s ban kicks in and what it means for both Moscow and New Delhi

Chapters:
0:00 Intro
0:22 INDIAN OIL
2:56 EXPORTS
4:55 RUSSIAN OIL
6:20 EU BAN
8:43 SUMMARY & CONCLUSION