Russia is now India’s second largest oil supplier
Russia has recently replaced Saudi Arabia as the second largest oil supplier for India, a country with a population of over 1.3 billion people. Iraq continues to act as their number one supplier.
This can be explained primarily by a shift in trade from west to east. Russia is replacing US and European buyers by increasing sales to allies such as China and India, as well as removing the dollar as the reserve currency mechanism.
China and India alone represent over 30% of the global population, while China remains the largest manufacturing base in the world. Ironically, western sanctions have made the Russia the most sought after exporter on the block as their oil is offered at a discount while energy prices skyrocket everywhere else due to inflation.
The importance of reports like this is often overlooked by the mainstream. What we are seeing is a vast readjustment of global trade standards and a sharper division between eastern and western interests. This division is likely to lead to further economic conflict and crisis, with oil and energy being a central pillar of concern for billions of people as 2022 drags on.