Energy
Energy security

How sanctions are hurting the West more than Russia, and why it is good news for India

How sanctions are hurting the West more than Russia, and why it is good news for India
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Pipe systems at the gas receiving station of the Nord Stream 1 Baltic Sea pipeline.

Synopsis

Russia is frequently halting gas supplies to the EU through Nord Stream 1. As EU reels from skyrocketing energy prices, Russia’s gas revenues went up by 85% to USD100 billion. Meanwhile, India is saving valuable forex, as its oil import from Russia, at a big discount, has gone up from a puny 2% to 13%.

By
9 mins read,
Every war has its cost. Economic, humanitarian, et al. After Vladimir Putin marched into Ukraine on February 24, 2022, the West hit back almost immediately and imposed stringent sanctions on Russia. Putin retaliated by shutting down all pipelines carrying Russian gas to the West. The prediction was that the Russian economy would collapse. While Putin may have suffered some setbacks in the war, looks like he has won the first round of the

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