The American state of New York massively purchases gasoline and diesel in India, which benefits from cheap Russian oil. This is evidenced by data collected by the Bloomberg news agency.
About 89,000 barrels per day of fuel will reach New York this month, the highest level in more than four years. They make up 40 percent of the country’s total imports. A year ago it was still 5 percent.
After Western sanctions against Russia for its invasion of Ukraine, India has become an important market for Russian crude oil. New Delhi buys black gold cheaper and processes it into fuel, which it resells (without sanctions).
Indian imports to New York are needed to compensate for reduced fuel supplies from Europe to the US due to the energy crisis caused by the conflict in Ukraine. European supplies are expected to fall further when additional sanctions take effect in February. Then the EU countries will stop importing not only crude oil, but also oil products from Russia.
Source : HLN