Reportedly one significantly solid cause behind defending the import of cheaper crude oil from Russia remains our country’s inability to pay a tad bit higher prices amid our abject poverty. So, we have been able to avail crude oil in the name of poverty. What we do not forget is selling refined oil at prices far more uncomfortable for vehicle riders. But do we need it?
Is it something that we must possess given its huge consumption? The answer remains an emphatic yes. If we are availing of some benefits with a purpose, why not? There is a purpose in walking just because you need it for health. When it has already been amply decided, there is no need to take a different route or do something just because you do not want to.
Since Russia embarked upon the Ukraine war began above a year ago, Europe had imported six times more energy from Russia than India, said External Affairs Minister S. Jaishankar in a TV interview last year. Thereby, our country’s defense looks apt and strong due to handling the highly precarious condition at this time.
Europe has properly conditioned itself to reduce its imports while doing it in a saner manner that is relatively comfortable now, he said adding If it is a matter of principle why did Europe not cut on the first day?
With no early end in sight to the ongoing conflict, some avid analysts expect from Russia to continue to offer cheap oil to Asia’s biggest energy importers biz., India and China respectively. India expects Russian crude intake to remain limited to these two countries like India and China, sustaining the steep discounts, one analysis emerges.
India’s oil refiners will continue to maximize their reported profit margins for as long as they can. However, the fear of lifting the imposed sanctions lingers. This will simply compel them to return to their usual crude diet in the days to come.