A closer look
Western secondary sanctions on oil are less of an iron curtain and more of a deeply cynical carousel. When Europe banned direct imports of Russian crude to punish Moscow, they inadvertently created a massive arbitrage opportunity. Russia simply sells the crude at a massive discount to India. Indian refineries casually process it into diesel and gasoline, and then sell it right back to the exact European nations that instituted the ban at a massive premium. Trade diversion ensures the oil flows; it just takes a longer, more expensive boat ride.
