Before the war in Ukraine, less than 1% of India’s oil came from Russia. Now it is 42%.

The system is allowing India to profiteer by buying cheap Russian oil, reselling it, and pocketing $16B in excess profits.

This opportunistic arbitrage is unacceptable.

https://x.com/SecScottBessent/status/1957827395496407120

Source: http://@SecScottBessent