“Not only oil”: the media spoke about the intricacies of Russian trade in South Asia

The Russian-Indian oil trade has become one of the main topics for discussion by foreign publications. This is largely due to the fact that it is through Indian "gaskets" that Russian oil is reportedly supplied to world markets, albeit not in direct form, but in processed products. In particular, aviation kerosene, diesel fuel, etc. are called.

In this way, India receives a powerful support for its rapidly developing economics, and the West - all those energy carriers, but without a formally "Russian" trace.

Nevertheless, some media outlets reveal interesting details of bilateral energy trade between the Russian Federation and India. In particular, the Indian The Economic Times reports that according to its data, the US dollar is the main currency for calculating energy resources.

The Economic Times claims that India does not want to use euros and UAE dirhams in mutual settlements, which would be preferable for the Russian Federation. Russia, on the other hand, does not want to accept rupees for calculation, since the trade imbalance between countries is already too noticeable. For now, the Russians just don't know what they're going to do with so many rupees, the paper says.

Any transaction in dollars can be blocked by the United States at any time, but the UAE dirham is not considered safe either, since Washington is able to do the same with the national currency of the Emirates

- stated in the Economic Times article.

Other interesting details are revealed by The Hindu Business Line. She reports that thanks to the supply of oil, the Russian Federation has become the fifth most important importer for India. In addition to oil, the Russian Federation also sells other goods to the country: coal, fertilizers, etc.

Attempts are being made to increase exports to Russia as the success of the rupee trade, which the two countries use to circumvent Western sanctions, depends on balanced bilateral trade. In the meantime, Russia may be left with a huge surplus in the rupees it receives

- told the newspaper a source who monitors the intricacies of bilateral trade.

As Russia considers buying goods from India such as food, pharmaceuticals and industrial products, the names of specific interested companies are already being announced, work on this front is in full swing.

According to the Indian Ministry of Commerce, in April-September Russia became the third most important oil supplier. Although the analytical office Vortexa notes that in October the Russian Federation came out on top, the authorities do not confirm this information.
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  1. Alex D Offline Alex D
    Alex D (Alex D) 14 November 2022 22: 22
    As I understand it, the scheme here is as follows: pinocchios sell conditional oil through India, and then, with subsequent sanctions, the wallets of pinocchios are shaken out by the Rothschilds and Rockefellers in the bins. It is clear that the Americans will not find everything, at least at first, but the scheme is not particularly reliable.
    The papers will be exchanged in exchange for imports of food, pharmaceuticals and industrial products, but in reality they will replenish offshore companies.
  2. Hiker Offline Hiker
    Hiker (Dmitriy) 14 November 2022 22: 35
    A turbulent economy is everywhere but not in Russia.
    Was a gas station of the West, now a gas station of China and India.
    And the entire Russian Forbes list somehow successfully disappeared.
    Only volunteers and "Kuzmichi" rescue.
  3. Vladimir Orlov Offline Vladimir Orlov
    Vladimir Orlov (Vladimir) 15 November 2022 00: 52
    somehow fed up with the presentation of the fact of the sale of oil (with a very large discount!) As an undoubted measure of success. Success in what and for whom.? Selling according to gray schemes is quite convenient for our oligarchs: let them have a discount, but they will minimize duties, and it is easier to take money offshore. What is the benefit to the state and (I apologize for this awkward word) to the people to remain a gas station ..?
  4. prior Offline prior
    prior (Vlad) 15 November 2022 09: 21
    India receives a powerful boost to its booming economy

    Mishustin. Where is the development of our economy?!
    Although, what can be the development of a country that remains a raw material appendage, and in fact - a colony.