logoalt Hacker News

lern_too_speltoday at 1:31 AM0 repliesview on HN

With the strait of Hormuz closed, Russia now accounts for more than 50% of India's oil imports. If the tariffs work, the strategic petroleum reserves of the rich countries will deplete even faster, and when the reserves are gone, those rich countries will pay more for non-Russian oil than India can, so India is going to eventually have to buy the Russian oil and take the tariff hit.