So that title is very misleading. It did not increase russian oil imports by 12 times.
It did increase the imports through India by 12 times. And the oil coming through India is about 40% russian.
Edit: my point being, that that is still not great, in fact it's kinda pointless to pay more for the oil and the middle man still be partially russian owned. But we don't need to make exaggerated claims about this.
The oil sent to India for refining is much cheaper. If the price falls enough Russia will make little to no money.
That's fair I assumed that the middle man would make it more costly but the smaller demand for Russian oil might make it cheap enough to cancel it out. The oligarchs of rosneft will still profit though
The thing is, that the sanctions were never meant to prevent Russia from exporting oil because the world requires that oil to function, unfortunately. So the goal was to make Russia give steep discounts and as far ss I know, that is working. And yeah, billionaires are getting richer thanks to oil... what's new?
I'm was about to write that I couldn't have imagined anything else happening that described in the article.
But you mention an interesting point. Just making Russian oil worth less on the world market.
The place to talk/ask about stuff in Germany in English.
Wiki: https://lemmygermany.github.io/wiki/
Many thanks to @Vittelius@feddit.de for creating this!