India is funding Putin’s war against Ukraine

Monitoring Desk: A writer of Financial Times Peter Navarro who is White House counsellor for trade and manufacturing claims that India’s oil lobby is funding Putin’s war against Ukraine.

According to writer, Russian crude is refined and resold around the world by Indian businessmen who provide fund Russian war machine against Ukraine.

“Importantly, before Russia invaded Ukraine in February 2022, Russian oil made up less than 1 per cent of India’s crude imports. Since then, daily imports have soared to more than 1.5mn barrels — more than 30 per cent of India’s total. To be clear, this surge has not been driven by domestic oil consumption needs. Rather, what really drives this trade is profiteering by India’s Big Oil lobby. Refining companies have turned India into a massive refining hub for discounted Russian crude. The refiners buy oil at a steep discount, process it, and then export refined fuels to Europe, Africa, and Asia — all the while shielding India from sanctions scrutiny under the pretence of neutrality”, the article claimed.

India’s oil lobby is funding Putin’s war against Ukraine

It is also indicated in article that India exports more than a million barrels per day in refined petroleum products, equivalent to over half the volume of crude it imports from Russia the leader of this practice are BJP connected energy Czars who in return fund Putin’s war machine.

The writer believes that any attempt of Global North to isolate Russian President Putin is futile as ‘India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs’.

Moreover, India is one of the largest buyers of Russian military hardware, with 36 per cent of India’s total arms imports between 2020 and 2024 that also continues to flow money to Russia.

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