Commentary
India is profiting from the blood of Ukrainians again. It’s buying Russian gas and oil at discounts only available because most of the world markets are shunning the tainted exports.
Russia is offering discounts as much as 35 percent below market price—if one can stomach the ethical qualms of paying for the bombs now collapsing schools and hospitals in Kharkiv and the Donbass.
Bloomberg News reported on May 9 that Indian gas importers will continue to buy Russian liquid natural gas “as long as the Russian fuel remains cheaper than rival suppliers,” according to a Bloomberg source.
When oil traded at almost $108 a barrel on May 4, India tried to get Russian cargoes for less than $70 “to compensate for additional hurdles, such as securing financing for purchases,” according to Bloomberg.
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