Lars Barstad, the CEO of a New York-listed tanker company has been quoted by the FT report as saying, "the discounts on the Russian Urals for India was about $25-30 per barrel. Freight rates would add only $3-4 per barrel, making the trade economic for India."
These 'experts' have chosen to conveniently ignore that major NATO countries have continued to purchase billions of dollars worth of Russian oil and gas while using heavy words to denounce the Russian military operation in Ukraine, and pumping weapons into the war, basically paying both sides to fight.
European Union has decided to impose economic sanctions on its two member states, Poland and Hungary, even as the two countries deal with influx of over 1.5 Million Ukrainian refugees.
These vested interests are now making all efforts to persuade the United States, another strategic ally of India, to act against the Indian government for its alleged support to Russia.
China has demanded that US should not harm the legitimate rights and interests of China and other parties when handling the Ukraine issue and its relations with Russia.
While big sanctions and big statements of condemnation were announced by leaders in Europe and USA against Russia, they have made sure that Russian oil and gas continues to flow into their countries.