India, which has refused to participate in the monster sanction attack against Russia, is rapidly increasing its purchases of Russian oil – at a substantial discount. India is the #3 oil consumer in the world, after the U.S. and China, and Russia is now its #2 supplier (Iraq is still #1). Reuters reports that India’s June oil imports from Russia rose by 15.5% over May, and were about 950,000 bpd. At the same time, Indian imports from Iraq and Saudi Arabia dropped by 10.5% and 13.5%, respectively.
Brazil is also trying to nail down its energy supplies through Russia. President Jair Bolsonaro said they are close to reaching a deal for the purchase of diesel from Russia at discounted prices, Reuters reported on Monday, July 11. “We have food security and energy security, there are chances that we will buy diesel from there, which is at a more convenient price.”
