At the International Debate Club event in Sochi, Russian President Vladimir Putin put forward a quite interesting point: If India is intimidated by the US tariff threat and gives up Russia's discounted crude oil, it will become a huge loss "!

So now the Indians understand the account and say they will not jump into this pit! his words, not only explained the energy transaction pattern of India, Europe and Russia, but also gave the United States the first shot.

Putin's words must be understood from the origin of Russia and India. India and Russia have been in a strategic partnership as early as 15 years ago. Over the years, India has bought a lot of Russian weapons, and Russian oil also accounts for a large proportion of India's energy map. However, at that time, European countries mainly bought Russian energy, so India was not conspicuous.

However, after the Russia-Ukraine War began, Russia's energy was "blocked" by the Western market. At this time, in order to find a new breakthrough in energy transactions as soon as possible, Russia began to discount oil and natural gas. India immediately took over after receiving the news and began to purchase large quantities of Russian oil, which was then processed into refined oil and then sold to European countries.

This time and again, India's money is weak. And now, India imports not only crude oil from Russia, but also buys uranium resources for nuclear reactors from Russia. These two key resources have become the "ballast stone" of cooperation between the two countries.

Putin in his speech, a bill to India. He said that if India abandoned Russian energy, it would first have to face an inestimable money loss. The data given by commodity analytics firm Kepler showed that India's amount of crude oil purchased from Russia, in two years, has grown from 6.7 thousand barrels a day, to about 1.5 million barrels, and at most even jumped to 176 million barrels. Today's Russian oil, has occupied two-fifths of the Indian oil market, and even more.

India buys a lot of oil because the price of Russian oil is so tempting. The average CIF price of Russian oil to India is only US$525.6 per ton, which is nearly US$40 cheaper than Iraq crude oil. Based on this price and the current import scale, it is not uncommon for India to lose tens of billions every year if the Russian oil trade is cut off.

And now, India's energy transactions with Russia have also changed India's energy pattern. With the surge in Russian oil imports, India's share of purchasing oil from the Middle East has fallen from 60% to 44%, and daily imports have decreased by 28%.

Most importantly, Russian oil is actually India's "golden ingot". As mentioned earlier, India has created an industrial chain with considerable profits by processing Russian oil into refined oil. Therefore, for India, abandoning Russian oil now will not only lose cheap reprocessed raw materials, but the international competitiveness of their refining industry will also inevitably be affected. This means that if energy cooperation with Russia is stopped, India's employment and export earnings will be affected.

After Trump failed to mediate a ceasefire in the Russia-Ukraine war, he began to put pressure on other countries to buy less or even no Russian energy, hoping to force Putin to make concessions according to the wishes of the West. The main targets of this action by the United States are China and India, two major customers of Russian oil.

However, the industrial chain between China and the world is too deeply embedded, and its own economic strength is extremely strong. Even the United States has nothing to do with China, let alone other countries. Therefore, India is actually the only main target of the United States' "strategy". As for the means, apart from the "rumors" that people look down on, there is only the annoying tariff left.

But if the United States wants to make India no longer use Russian crude oil, then at least have to find a corresponding industry, guaranteeing how much profit a year. to be honest, the volume of trade between the United States and India is not large, even if it is completely cut, it is not important for India.

Instead, it is not possible to continue to use Russian oil, and the losses to India are even greater, because that means that their transfer trade cannot be done.So in the trade negotiations between the two sides, India did not undertake the pressure of the United States to transfer, and ultimately allowed Russian oil to retain this "land of self-restraint".

In his speech, Putin spoke highly of Indian Prime Minister Modi's style of doing things. He said that Modi is not the kind of leader who will be intimidated by external pressure, and will definitely settle accounts from the perspective of the long-term development of the country.

It is true that energy cooperation between India and Russia is gradually increasing after the failure of negotiations with the United States. And now, with the deepening of cooperation between the two sides, the "ghost fleet" responsible for transporting Russian oil is also slowly growing, and the energy binding between India and Russia is gradually deepening.

In fact, the energy cooperation of Russia and India is not only about the two parties, but also a miniature of the adjustment of the global energy order. Russia is wealthy by selling energy to European countries, although the old markets are no longer, but the Asian market has been opened smoothly, so its overall losses are not large. With this opportunity, India has achieved both diversification and low cost of energy imports, and built its own finished oil export system. This win-win cooperation model allows the two countries to find common interests in complex international situations.

For India, the current situation is indeed a bit of a "dilemma", but if you study carefully, you will find that cooperating with Russia is the most cost-effective choice. If Modi bows to the United States and gives up Russian oil, he will not only suffer huge economic losses, but also lose the flexibility of energy supply. In the future, India can only become a passive party in the international energy market.

Indeed, compared to other countries in Europe, India has taken a more pragmatic path.In the past, Germany was able to become the most important industrial country in Europe, relying on cheap energy from Russia, and many other European countries also need energy from Russia as a livelihood guarantee.

But now, under the American neglect and destruction, Europe has gradually abandoned Russian energy, and as a result, they are directly hit in economic, ¡°negative growth¡±. As for the people¡¯s livelihoods, it is even more confusing, every time in the warming season there will be protests. and now, India has overcome the pressure of the United States, continue to cooperate with Russia, to prioritize its economic development. In this regard, Modi is indeed wiser than the leaders of those European countries.

India does not take advantage of it. This is not only Putin's judgment, but also an inevitable choice made by India after calculating its interest accounts. Between economic interests and political pressure, India clearly favors the former. After all, no matter what era, cooperation between countries must be linked by interests, and only economic cooperation relations that are in line with their own development can have long-term value.

Although the story of Russia-India energy cooperation is not over yet, it is certain that economic laws and national interests will always be the core norms guiding international cooperation.