EU Imposes Sanctions on India! | Is the West Punishing India for Friendship with Russia? | Ankit Sir

Brief Summary

This video discusses the European Union's (EU) sanctions on India due to its oil trade with Russia, exploring the reasons behind these sanctions and their potential impact. It examines India's role in refining and exporting Russian oil to Europe, Trump's threats to countries buying oil from Russia, and the EU's efforts to pressure Russia through sanctions. The video also explains the involvement of companies like Rosneft and the implications for India's energy security and trade relations.

  • EU imposed sanctions on India for refining and exporting Russian oil.
  • Trump threatened countries buying oil from Russia to pressure Russia over the Ukraine war.
  • India, Russia, and Europe were involved in a complex oil trade, with India benefiting from discounted Russian oil.

Intro

The host introduces the topic of discussion: Trump's attempts to stop the Russia-Ukraine war by threatening countries that buy oil from Russia, including India, China, and Brazil. Trump's strategy involved using an MP and the NATO chief to warn India of potential sanctions, such as a 500% tariff, if it continued to purchase oil from Russia. The core issue was that India was importing oil from Russia, refining it, and then exporting it to the European Union, which the EU realized was indirectly supporting Russia.

India’s Fuel Exports to Europe via Third Countries

India had become a fuel exporter to Europe, utilizing routes through the Red Sea, Suez Canal, and the Cape of Good Hope. Data from August 17, 2024, shows significant monthly oil sales to Europe. India had doubled its petroleum exports to Europe in the last three years, largely due to oil imports from Russia.

Trump’s Role Behind the Russia-Ukraine War

Trump's threats were directed at Europe because they needed oil, which they previously obtained from Russia but were now indirectly sourcing from India. Trump believed that by buying oil, India was helping to meet the needs of European countries, which in turn allowed Russia to continue its actions in Ukraine. Trump highlighted that Europe had spent more money on Russian oil and gas ($23.6 billion) than on defending Ukraine ($20 billion). To avoid potential sanctions and scrutiny, the EU distanced itself from India, using India's friendly relationship with Putin as a pretext.

EU’s 18th Round of Sanctions on Russia

The EU announced its 18th round of sanctions on Russia, which included several key measures. They stopped funding 105 "shadow fleet" ships that were enabling Russian banks and banned the North Stream gas pipeline. The EU also imposed a lower oil price cap, reducing it to $47 per barrel to make it less profitable for Russia to extract oil. Additionally, sanctions were placed on Chinese banks supporting Russia and, for the first time, designated a flag registry and the largest Rosneft refinery in India.

What’s Inside EU’s 18th Sanctions Package?

The EU sanctions targeted ships evading restrictions by using flags of convenience and shell companies to transport oil. Russia had deployed around 450 ships with altered identities to continue delivering goods. These ships would transport oil to India, where it was refined and then sent to Europe. To circumvent sanctions, some ships engaged in mid-sea transfers to smaller vessels for delivery to Europe. The EU's stricter measures aim to ban this practice, similar to a strict prohibition.

What’s the Full Story Behind Rosneft?

Rosneft, a Russian government-owned company and Russia's largest oil refining company, strategically planned for future conflicts by investing in India. In 2016, Rosneft purchased a 49.6% stake in Essar (SR) Oil for $12.9 billion, marking a significant foreign direct investment in India's energy sector. Essar Oil was later renamed Nayara Energy. Nayara Energy operates an oil refinery in Vadinar, Gujarat, where Russian oil is refined and sold in India and exported to Europe.

Mukesh Ambani’s Deal with Rosneft Explained

Mukesh Ambani, recognizing the opportunity, entered into a deal with Rosneft to purchase $12-13 billion worth of oil annually for 10 years. This oil would be refined at Reliance's Jamnagar Refinery, the world's largest private refinery, and then sold globally. This arrangement allowed India to benefit from discounted Russian oil, with traders making profits and the Indian government collecting taxes. However, the benefits of cheaper oil have not been passed on to Indian consumers. The European Union's sanctions, influenced by Trump's statements, aim to stop the flow of oil from Rosneft, impacting entities like Nayara Energy.

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Transcript

Full transcript of “EU Imposes Sanctions on India! | Is the West Punishing India for Friendship with Russia? | Ankit Sir”. Click a timestamp to open the video at that moment. Need another video? Use the YouTube transcript generator.

0:00 Hello friends, welcome all of you to Ankit Inspires India. I am Ankita Awasthi, the moment I was waiting for has arrived. Yes, you will remember that just a few days ago I had told you all that Trump currently wants to establish peace in the world and for establishing peace, he wants to stop the war between Russia and Ukraine. But Russia just doesn't agree. He talks on the phone six times. But he does not listen to Trump. So this time Trump gave them an ultimatum of 50 days and in that ultimatum he said either stop the war or else I will impose sanctions on you. In such a situation Russia still did not agree. Even today shells were fired. In such a situation, to stop the Russia-Ukraine war, Trump made another move and the move was that he tried to threaten those countries who buy oil from Russia. The names that came out were of India, China

0:46 and Brazil. Coincidentally the names of all these countries are also BRICS countries. No problem. But Trump did not dirty his own name by threatening, sir. This time he had called through his MP. The MP was asked to tell India that if it does not buy oil then 500% tariff will be imposed. In such a situation, India was first threatened by the MP. After that, I threatened the NATO chief that he would tell India that if it buys oil then we will impose sanctions on you. They would impose these sanctions because actually the purpose was to build pressure on Russia which was not ready to agree. So he was not ready to accept it. So secondary sanction, secondary sanction means impose sanctions on Russia. Also impose restrictions on the buyers so that they avoid trading in futures out of fear. Russia did not agree. You are done playing with us. why did it

1:33 happen? Because we used to import oil from Russia, and after importing it, we used to refine it and send it to the European Union. The European Union understood that ohho, we are also being indirectly told that we can impose sanctions. When America's courtiers are countries like the European Union, they will do anything to please Zille Ilahi and that is what happened. To please the US President, European Union countries have imposed sanctions on India to take revenge from Russia. What has happened? India has a refinery called Rosnet Refinery, through which we used to refine oil and sell it to the European Union. Although some of you may know this and some may not. They will think, did we also sell oil? Yes, we also used to sell oil. You will say Sir, India

2:19 imports 85% of its energy requirements. Hey you are absolutely right. But we also take advantage of the opportunity and sell it to the market. And this work was done by two refineries here. One was named Naira and the other was named Jamnagar Reliance Refinery. This time Naira's name has come up in these two refineries. It is said that Naira you will not be able to sell your oil in the air. And saying this, a ban has been imposed on the Russian oil which was being sold from India to the European Union. What will be the impact on India due to this ban? We will mention it in today's session. Let me just tell you this about the European Union that there are 27 small countries within Europe that have formed an organization. Known as the European Union. Britain used to be in this once, which

3:04 ran away. That event was called Brexit. America runs a group called NATO. The North Atlantic Treaty Organization, which is made up of 32 countries, has vowed under its Article 5 that if any one of us is beaten, we will all come together and fight. But out of 32 NATO countries, 23 of the 27 countries are common countries which are in NATO as well as in the EU. So in a way, the EU accepted NATO's point and by accepting it, imposed sanctions on India. So is it only our name or is there someone else's name too? That is his name as well. His name was not in selling oil. They were not making money by selling oil to the EU. They were playing some other game. what were you playing? We will explain it in detail in today's session. And we will also tell you this information that how Russian refinery was

3:50 selling oil to Europe through India. We will also tell you which ships of that Russian refinery along with India have been closed calling it Shadow Fleet. In today's session we will also tell you that till now America had dominance over India by doing this kind of process. Now is Europe trying to dominate and if it is, is India ready to take on all these Western countries together in the name of friendship with Russia ? So let's start the detailed analysis. Before that, an important information is that our new updated hand written notes are available on our application Apni Pathshala and Baatein Bazaar Ki on Apni Pathshala which you can order sitting at home. Along with our notes, our courses are also available which strengthen your foundation. On the other

4:36 hand, on the application of Baatein Bazaar, you are being given a combo of Fundamentals of Stock Market and Mutual Funds. You can access it and if you don’t want to then wait for the monsoon sale. She is coming soon. So let us explain the entire incident in detail. As I told all of you friends in the beginning that even though India used to import, it had also become an exporter and I am presenting before you the export figures of August 17, 2024. If you look at this data carefully, you will recognize that India, on its part, exported fuel to Europe through the Red Sea and Suez Canal and through the Cape of Good Hope under Africa and we sold good oil on a monthly basis. We have been selling a good amount of oil

5:21 to these people. All this data is in front of you. Ok. Another one, let me show you a cutting from just last month in which it is written that India doubles its petroleum exports to Europe in three years backed by oil imports from Russia. In simple language, just focus on the name written here. He is the one who plays NEFT every day and it's all his. They are saying that India has just doubled the oil exported to Europe in the last three years. What kind of oil was that which we have doubled? Rosneft people are saying this. Let us understand this in more detail. Along with this, also take a look at Trump's threat to Europe so that you can understand that we were being threatened by

6:07 Trump's MP and NATO chief at Trump's behest, but the threat actually went to Europe. Why am I saying this ? Actually Europe needed oil. Earlier he used to get it from Russia. Now he was taking it from us in a roundabout manner. But when Trump said that I will not spare everyone. Why won't I spare you? Because Trump believed that India is buying oil to fulfill the needs of the European countries and India buys oil in their name, as long as you people keep buying oil, Russia will keep dropping shells on Ukraine. In such a situation, Trump had once threatened the European Union countries and said that Europe has sadly spent more money buying Russian oil and gas than they have spending on

6:53 defending Ukraine. They have not spent as much money on saving Ukraine as they have spent on buying oil from Russia. He clearly explained this with numbers that last year Europe purchased oil worth approximately $23.6 billion. Whereas they spent only $20 billion on Ukraine. Overall, Europe can buy oil whether it buys it directly or through India. The demand was already being generated. America was watching this demand and in view of this, it has now sidelined India to save itself. I said sorry I don't love you. We have been caught and when they were caught they took the name of India and said Sir, this country was selling oil to us, that is why

7:38 we are stopping it now. By the way, let me tell you that it is not only we and China who have a bad reputation for buying goods from Russia. Countries around the world have been purchasing goods according to their needs. If I talk about goods then Turkey comes on top in oil products. China comes on top in coal. China also tops the list in crude oil, while EU tops the list in LNG and pipeline gas too. What's more, America, which is sitting as the judge of the whole world, itself buys enriched uranium from Russia. I have told this to you many times before. But it doesn't matter sir. Might is right. In such a situation, he has made preparations that I will threaten everyone. Let's threaten also. What is the reason behind this? The reason behind this is the stain on their reputation. How did the

8:26 discount apply? When Trump can contest elections in the name of Russia and Ukraine and says that as soon as I become President, I will stop the war within 24 hours. Leave aside 24, this time the war has been caught in the middle for 124 days meaning 12424. It's been 1240 days. Even in 1240 days, Trump has not been able to stop the war. It has been several months since he came to power. In such a situation, Russia is not ready to accept. The limit is that this brother gets ready to become a drone any day whenever he feels like it. Let's go and throw it on Ukraine. Look at the situation, on July 10, brother, Russia fired 700 drones over Ukraine. Moreover, if you see the news, they carried out massive drone bombardment on 16th July. Did n't even leave Ivan Zelsky's house, friend. There were 400 long range

9:11 drones which were shot down one by one over Ukraine. That means they are not stopping at all. In such a situation, Trump was setting a deadline from his side that he would stop Russia. It has been stopped. The ceasefire has been accepted. These are becoming an obstacle to the peace prize. Now they are becoming an obstacle in the peace prize. How will Trump tolerate this? That's why Trump again bent the finger a little, meaning milk. It was better than directly confronting Russia. He said, do one thing, stop his fans. Because it costs money to make all this. Buyers are standing in line to purchase goods with money. Stop the buyers. You will not go to buy goods. Then how will Russia do it? So in this situation, we were among the buyers who were purchasing from Russia. Crude oil. How did the goods come from Russia ? It came by ships. So, these ships which used to come to us, we should try refining the oil in these ships, you can understand this also.

9:57 Oil comes out of the ground in crude form. Then it is refined in refineries. After being refined, it is converted into good diesel, petrol etc. and then transported to other places. So what we used to do was that we used to import oil from Russian tankers. They used to refine it here and after refining, they used to load it into ships and send it to Europe to sell it and made good money by doing this. That is why this gentleman, that is this Senator, had told us that if the Indians do not stop, then we will impose 500% tariff on buying oil from Russia and the same language was used by the NATO chief on which we have already held a session. We have already told you that 500% tariff will be imposed on trade with Russia. NATO Chief's threat to India. Now the side effect of these threats fell on Europe.

10:49 How did the news of sanctions imposed by the European Union on India come about? I hope you have understood the plot now. Because America was shouting that it would impose sanctions on those buying oil. In such a situation, India could have argued that hey Trump, the way you are making this statement. Your NATO alliance is openly saying that they will impose sanctions on India. Their own country, 23 of their countries buy oil from us. In such a situation, they are buying oil from us and you are talking about imposing sanctions on us. This is injustice. To avoid such injustice, they have already stepped aside. Oh my God, we did n't even know who this boy was. By doing this, he distanced himself from us. EO sided with India. EO distanced himself from India on the pretext that you are a friend of Putin. Well, China was also implicated here. It was natural for China to be involved

11:36 as it also buys oil. Buy but do not sell to the EU. Therefore, EU sanctions were not imposed on them, but something else was imposed on them. Now let's get to that. So in actual sense the news comes out that there is a madam from Europe after finishing everything. Isn't it? Aunt who does the job. She made three consecutive tweets and through them informed the world that, O people of the world, on behalf of Europe, I am the High Representative for Foreign Affairs and I would like to tell you all that we have announced the 18th session on Russia. Nothing has happened to Russia since 2017. Now we have announced the toughest sanctions of number 18. So yes, Khala Khallas, what did you tell me? So aunt says that we have mained three things. First, we have

12:22 put the strongest sensations ever on Russia. Okay aunty, what else did you do? On his part, he said that we have stopped funding of 105 such shadow fleet ships which were enablers of Russian banks and have stopped those ships. Now what are these shadow ships ? What are Fleetships? I will tell you this in a little while. Khala tweeted again that the North Stream gas pipeline will be banned from now on. Even though it was already banned, he wrote a tweet to strengthen it and imposed a lower oil price cap. The lower oil price cap has meant that oil was now bought from Russia at $60 a barrel. I had told Russia that you will not sell oil more expensive than this. Now it has been reduced to 47

13:07 points, something like this, that you will not sell oil above that much dollar. So, we will make its oil so cheap that it will not be profitable to extract the oil. So Khala made this second point. The third point added is that we are putting more pressure on the Russian military industry and Chinese banks that enable sanctions to bypass our sanctions. Meaning, we have imposed sanctions on Russia and the Chinese banks are giving them money saying that it does not matter, take the money in our name. It does n't happen like this. Your friend's bank account has been seized and closed. You are saying get the money deposited in our account, friend, keep taking it from us. In a similar way, those Chinese banks which were supporting Russia were also sanctioned. And in the third

13:52 our name came and it said for the first time we are designated a flag registry and biggest rose net refinery in India. India's name came up in the name of its biggest Rosneft refinery and said that our sensation also hit those in doctrinating Ukrainian children. It was about Belarus. He did all this work on his own. Overall our name came up for Rose Neft refinery. By the way who is this Khalakhlas ? Our Foreign Minister had last visited them just last month. Then madam was saying that together you and we constitute 1/4th of the world's population and also create GDP. In such a situation, Khala was very harmful. If Khala imposes sanctions on us

14:40 then let her do it and also told Russia that son if you want to sell oil now, then you will not sell oil above Rs 47.6 per barrel. This means that if Russia still has to sell oil to them, then if it sells it at a higher price, then there will be censorship. Can not sell it. In a way, it means that you have potatoes with you. I asked about your cost, how much is it costing per kg brother, you said brother, ₹10 per kg. So listen, if you sell more than ₹2.5 per kg, you will not be allowed to set up shop in the market. They have done this with Russia. At the same time, the gas pipelines through which Russia used to send gas to European countries like Germany have been banned because people used to die in the winter and 105 vessels which are considered Putin's shadow fleet have been banned

15:25 and 55 more individuals and entities have been sanctioned. The European Council named it its 18th package. We have imposed so many sanctions. Sir, let us understand the 18th package in some detail and while understanding this, let us first understand the story of these vessels. Vessel means ship. If we call it ship, it is a water ship. The water ship will sail in water but the story will do something else. What story will it tell? This vessel sails in someone else's name. By the way, I will give you some information. Have you ever seen fraud happening on the road? Because look, I have been in the liquor department. And what used to happen in that was that the cheap liquor from Haryana used to be sold in Gujarat via Rajasthan. Many times we were able to catch the truck and many times it would escape by fooling us.

16:11 What were these people doing? Used to enter fake numbers. So that the vehicles could not be traced, the suits and suits would go straight away. To cross the border, we used vehicles from other states. Many times they would take him in the ambulance filled with liquor. Even in films, as you might have seen, the goods were transported secretly in this manner so that the tax department does not know that we are evading taxes. Similarly, when ships sail in water, there is a fixed route on the way and you will have to pass through this route but the ocean is bottomless. It is many times bigger than the earth. That means the ocean is much more vast than the land. In such a situation, if a ship sailed away and took the oil with it and went to another country and sold it. Now you will say, Sir, will it not be visible from the satellite, so let me ask you, will the truck not be visible? But what is happening

16:56 ? What happens on ships is that sometimes the flag of a country which is not banned is hoisted on these ships. Now suppose you hoisted the flag of some Alta Malta type country. Now the Sea Coast Coastal Forces are watching you from a distance. The coast guard is seeing that yes brother it is the flag of Malt. Hey, let it go friend. He has pasted a number plate on it. It is shown here. Any such company, X or Z type shell company, formed anywhere in the Caribbean Islands, has its mark put here. It is floating now. Brother, there is no problem for you here. I am not throwing shells and ammunition. is carrying the goods. He said he must be taking it. Someone might have booked it. Now this ship would leave and reach Europe after selling good quality oil. What was the story that the way you look at the names were written. Avan tu eagle. These are flag of some other country, owner of some other

17:42 country and you must have seen it many times, like we say that a few days ago some ships got stuck in the Suez Canal, then it was found out that its driver was someone else, its owner belonged to someone else, things used to happen like this, hey, those people who were not Houthis, who used to burst shells inside the Suez Canal, in the Red Sea, remember those Houthis too used to be worried that they could not understand whether this was a Russian ship or an Israeli ship, so they stopped, thinking that let us find out, we have burst someone else's ship, well, it does not matter, now in such a situation, what was the problem with these ships that when Russia faced the sanctions, it put about 450 of its ships into the water. Just by changing the number plate we will continue to deliver the goods. There was already a refinery in India. Now we will go upstairs also. To bring the oil there, they used to send it through their ships. The oil was refined here and after changing the number plates on these ships, it was

18:29 sent to Europe. Now, did the Europeans unload the goods after smoking cannabis ? No. What would happen was that someone would do piracy there too. Those who wanted cheap oil , those who wanted freedom from sanctions, would leave the ship in the middle of the water and take the goods in their smaller ships. So this was going great. Meaning, this was an open secret like the state governments say, like in our Rajasthan, that liquor is not available after 8:00 pm. But ask the drinkers, it is available everywhere. The same situation was with them that the ship was going to Europe. But there is a sanction. No problem sir. Will not stand in your country. Will stand a little distance away from you. Now take it from us. Everything was going absolutely great. Meaning the business was illegal but was being run legally. Now the people of Russia and Europe said that now we will not do this also. We are now strictly banning liquor like Bihar. It is a joke but this is a

19:16 tough government, Guruji, you will understand it further. Well, India sent them a lot of oil and they bought this oil. Now what is this story of Rosa Neft in this story ? Let me explain it to him. Actually, this is a company named Rosneft, which would be better to call a government company of Russia. This is Russia's largest oil refining company. Actually, more than refining, it is an oil exploration company that extracts crude oil from the ground and after extracting the oil, it refines it and sells it. If someone wants crude, it sells that too. Now listen to its story. It did this in 2016 as if it knew that someday in the future we would have to fight a fight with Ukraine. In this way, by planning in advance, it used to be a company in India in 2016. SR, you must have seen that there used to be

20:01 a red coloured petrol pump. There were about 3500 petrol pumps in India in the name of SR. The S in it was Shashi Ruhia and the other R was Ravi Ruhia. They were two brothers, they were from Rajasthan. So this was a company of these two brothers. SR, the private market of this SR company was very big in India. In 2016, Rosneft purchased 49.6 percent stake in this company for Rs 13 billion (12.9 billion). That means understand that this incident happened in December 2016. It was said in 2017 that the biggest foreign direct investment event in India's energy sector had happened when by giving so much money to us, that is Russia gave us so much money and

20:48 bought 50% stake in one of our companies. Nowadays, if you people have seen petrol pumps, then they have started removing the name SR from many places and a new name has come, Nayara. If you have seen the name of this Nayara, what is the matter, Nayara has come in the name of Naya Era. This is the same Nayara, so the Russian company Rosa Neft purchased around 50% stake in SR and gave a new name to SR as Nayara. Now this Nayara Energy is still running in India and this Nayara has a place called Vadinar in Gujarat, inside Kutch, called Vadinar. They have an oil refinery there. So what these people used to do was that they used to load their oil in these ships and send it away. Where did you send it

21:34 ? Vadinar in Kutch within Gujarat. It was refined in Wardinar. The oil belonged to Rajneft, where was that company from? Of Russia. That it had become the owner of the Indian company, so in a way, it used to sell goods in the refinery. Here the goods were refined and after refining it was sold in petrol pumps in India for around 3500 Naira and after that whatever was left or if it had to be sent to the further market from here, then it was sent to Europe. Is it cleared? In this way Rosneft created its stake in Nayara and the remaining 49% is now held by Kaisa Enterprises and United Capital Partners. OK boss? So I hope this story is clear to you. This is the Vadinar Refinery which is inside the Gulf of Kutch. The goods would come to Gujarat,

22:20 get refined and then go further from here. Ok? This is why India became an importer and exporter. Neft used to say daily that we refine it in Wardinar. Sell the goods further. The name would be of India and the goods sold would be of Russia. OK boss. In this way good work was going on. It was being played between India, Russia and Europe. Ambani Bhai Saheb could not see this thing. He said, Oho, if any company comes to our country, refines the goods in India and sells it in Europe, then I will also play this game. He said to Ross Neft, Sir, please do one thing, you bought half share of the company in this amount. I can buy this much oil from you every year. Please give me this much oil. I will refine it and after refining I will sell it too. He said, yes this

23:06 is a good deal. Brother, I took this deal for 10 years. What deal was made that around 12-13 billion oil will be purchased annually from Rose Neft. Mukesh Ambani signed an agreement last year in December for 12-13 billion a year for Russian Rosneft for 10 years that sir, you give me the oil, I will refine it, where will I do it in Jamnagar Refinery, Jamnagar Refinery is the world's largest private refinery and this refinery said that I will clean your oil and sell it to the world, so overall what did India play, it bought oil from R Neft, it came in Naira, it came in Wardnar or by going to Jamnagar, it was useful in our country as well as in the world, what was the benefit for Ambani, RNF is not a part of this company, so it will not get banned now,

23:51 but Wardnar will get banned, why will it get banned because it is a part of Rose Neft, that is why Wardnar's name is written as Rosneft India, Europe has banned Rose Naira by calling it Rosneft India, now it should be clear to you, okay sir, so overall India bought a lot of discounted oil. Our traders did good business. Now, how much benefit did India get from it? So the answer is that we got the benefit of taxation. Because Ambani was buying oil cheap from Russia. Not the Indian Government. At what price was Ambani buying cheap oil and selling it to us? at market prices. And after making profit from here, he was selling it in Europe. Who was facilitating this ? India. In such a situation, their goods continued to sell well from here. India took advantage of this entire loophole. The

24:37 Indian Government was happy to receive taxes by becoming a supplier to the European Union. Now a ban has been imposed on this. How did you understand the sanctions imposed by the European Union? He accepted what Mr Trump said. He agreed and came forward and said that brother, go and stop the oil that is coming from NEFT every day. Now another country's problem got stuck in this section. There was a country in Europe named Czech Republic whose capital is Paraga. Bollywood people show it. That Czech Republic was also told that son, you too will not buy oil from now on. This poor guy used to buy some oil. This too has been killed in the sanction. Along with this it was said that the Chinese companies which transfer military equipment to Russia will also be sanctioned. So the Chinese company which is sending military equipment to Russia got the sanction and the banks which were keeping Russian money and

25:25 supplying goods to them have also been sanctioned by Europe. But will Europe's ban be harmful for China ? This is something for Europe to think about. China has become a huge supplier. Exactly India has also become a big market. Europe should not have done this. Because Europe is engaged in a fight for FTA with India. If such incidents happen during the free trade agreement, then the free trade agreement with India will not be successful. If you remember, a few days ago when the NATO Chief made a statement against India, India issued a counter statement saying, brother, we will not listen to all these things. Our energy security is our priority and by doing this we will tell NATO not to show double standards on this issue. And even today our Oil and Petroleum Minister has said this that we buy oil from the world, we buy oil from Russia,

26:11 that oil is not censored, there is a cap on it that it cannot sell more than 60 billion $60 per barrel, now it has been made censored, it cannot sell more than $47 per barrel, it is not restricted, if it is offering it to us for that much, then we are taking it, if we are getting cheaper oil, through this we have established a balance in the demand and supply in the world, if we suppose stop buying oil from Russia and Russian oil stops coming into the market, then the price of oil will go above $ per barrel which is running at a very nominal price today. Well, no matter how much nominal purchases our government makes, we as a consumer have never benefited from it. We increase the tax by that much and pay it to the government in the name of consumer. Whatever the oil prices are, the government has continuously purchased oil very cheaply. We have done sessions on this several times.

26:57 We were very happy that wow we had fun. But I don't know whether that fun belonged to Ambani or the Indian Government. Why didn't it reach us? The benefit of the shortage of prices that we have has not reached us. Yes, the Indian government definitely tells the world that oil is cheap in the world because of us. But Indian people still buy expensive oil from Pakistan. This is an irony in itself. There needs to be a discussion on this as well. Well, whatever it is, it remains to be seen how the Indian Government proceeds further in this regard. Overall, I have told you what the European Union did to us. Has there been any response to this yet? In response, China as usual came out and said clearly that it is totally against fresh sessions of the EU. We have never provided any lethal weapon, we have not given any till date and we abide by the international law as well as whatever is there,

27:43 meaning a response is received. Similarly, India's response has also come. OK boss. I hope all of you friends would have received all the information. What do you think on this subject ? Are. Don't you think that when we got the benefit of buying oil at a cheaper rate, we should have also got the benefit so that if our sanctions were imposed with Europe, Ambani would have suffered a loss. We wouldn't have felt his pain. Please do tell us all these things in the comment box in the coming days. If you liked the information, share it with your friends. If you are new to the channel then please subscribe. That's it for now. Good night.

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