Russia’s partners are taking advantage of Russia’s challenging economic situation, according to a summary from the theater of war published in The Essence of Time newspaper, no. 533.
In April, Russia’s oil exports to India reached 1.7 million barrels, more than Saudi Arabia and Iraq together. However, this does not mean an influx of money into Russia.
Indian companies buy oil from Russia much cheaper than from Saudi Arabia. In addition, restrictions imposed by the G7 countries and the EU have an impact. And although formally India does not refuse to buy oil more expensive than the set price cap, but in practice it is almost impossible to receive payments.
India’s state banks refuse to make payments on transactions with prices higher than the price cap. Consumers are forced to find their own workarounds, which leads to payment delays. It turns out that Russia simply gives part of the oil to India – the payment remains dead weight in Indian banks.
“Our partners in the south are taking advantage of Russia’s challenging economic situation. And Russian government continues its questionable economic policy, returning debts even to unfriendly countries,” The Essence of Time editorial reads.
Source: Rossa Primavera News Agency