U.S. Price Limit Bankruptcy!Russian oil broke through $60, and India responded to the pressure to buy
In December, the United States was the first Western country to impose restrictions on Russian exports, but Russian oil has recently rebounded above 60.
This shows that the international community completely ignores the US price cap order and continues to import from Russia on a large scale**. The U.S. price limit order failed.
The most typical of these is India, which is increasingly distancing itself from Russia under constant pressure from the United States.
Curiously, China's imports of Russia** fell by almost half in June.
According to official Indian data, India's imports from Russia are currently increasing, accounting for 40% of total imports, more than Iraq, Saudi Arabia and the United Arab Emirates combined.
While the United States continues to put pressure on India to stop the flow of Russian oil into India and from India to the world, India has clearly resisted the pressure.
There is no doubt that the reason why the United States is pressuring is mainly out of geopolitical and economic interests, to expel India from the Russian oil chain, so as to prevent the flow of Russian ** through India to the world. But in fact, in the year after the conflict in Europe, India did become a middleman for Russia.
At the beginning of the conflict, Russian oil accounted for less than 10% of India's imports, but exceeded 10% for the first time in May last year. By the end of 2022, that rose to 25%. In 2023, Russia**'s share will remain above 30%.
On the one hand, Russia is relatively low and can meet the needs of the Indian market;On the other hand, Russia and India share common interests in energy and geopolitical cooperation, and the cooperation between the two countries is constantly strengthening.
India has already tried importing from Russia at a low price** to meet its own needs, while processing and exporting to Europe for maximum profit.
I can't imagine how the restrictions imposed by the United States will help India's ** surplus.
But some have also noticed that last month's imports of our country from Russia fell sharply by almost 50% compared to the previous month.
Why is India increasing its purchases while ours are decreasing?
In fact, the Russian leadership is more concerned about this phenomenon. As soon as the data were published, the Russian Prime Minister immediately approached the president of Rosneft in the hope of finding out the exact cause.
In fact, there are two main reasons: firstly, we had a surge in imports in the previous month, which more or less returned to normal last month, but judging by the month-on-month data, there was a significant decline.
Secondly, China has been buying oil from the world's major oil producers to meet its own needs, and recently we have started to buy cheaper Iranian oil, so Russia's ** exports to China are relatively small.
In this regard, China's leading businessmen also confirmed this statement, after all, this is a business, of course, will pay attention to the changes, in the current international market, since there are cheaper ones, they will naturally tend to choose cheaper.
However, Chinese traders will also increase imports to Russia** after the new quota is granted in July.
But in any case, the fact that the **exports** of the Russian Ural region once again exceeded the price limit fully shows that the price limit order has expired.
Demand for energy resources in the international market remains strong, despite attempts by the United States and other Western countries to limit Russia's growth through restrictions.
Export restrictions on Russia, one of the leading countries, did not lead to a shortage, so the international market continues to import Russia in large quantities.
As China's economy continues to recover, the Fed will gradually stop raising interest rates, which means that the international community's demand for ** will also increase in the second half of this year, a fact that further dismantles the ** ceiling order in the United States.