Russia is sending more oil to Asia as China and India

Melanthus

Chief Minister (5k+ posts)
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Russia is sending more oil to Asia as China and India continue to snap up cheap barrels, bolstering Moscow's revenues despite EU sanctions​


Russia is shipping more oil to Asia as it looks to counter the impact of EU sanctions.

Last Monday, the EU agreed on a Russian oil ban that stands to cut about 90% of Russian oil imports to the bloc by the end of the year. But demand from China and India is robust, as Russia discounts its oil prices amid sweeping sanctions over the war in Ukraine.

To meet Asian demand, Russia has increased shipments by about 20% out of the major port of Kozmino in the east of the country, Reuters reported on Tuesday, citing three sources familiar with the matter.

The exports from the port are pumped via the East Siberia Pacific Ocean (ESPO) pipeline operated by Transneft. The Russian pipeline company has increased the amount of crude oil pumped to Kozmino by 70,000 barrels a day, Reuters reported. On top of the piped oil, Russia also plans to send an additional 80,000 barrels of crude oil a day via rail to Kozmino from Siberia.

Transneft did not respond immediately to Insider's request for comment sent outside regular business hours.

Much of the oil is headed to China and India, neither of which has condemned Russia's actions in Ukraine. Beijing has criticized sanctions against Russia.

India, meanwhile, has hit back at criticism that it's funding the war in Ukraine through its purchases. In May, the Indian petroleum and natural gas ministry said Russian energy accounts for a "miniscule" proportion of its consumption and that a sudden stop to crude shipments would jack up global oil prices and hurt consumers.

"We don't send people to buy Russian oil, we send people to buy oil in the market, buy the best oil," Indian foreign minister Subrahmanyam Jaishankar said on Friday, per Economic Times.

Jaishankar also called out the rest of Europe for its massive Russian natural-gas purchases.

"Why it's only Indian money and fund coming from India and not gas coming to Europe which funds war, let's be even-handed out here," said Jaishankar, per Economic Times.

Former White House press secretary Jen Psaki said in April India isn't violating sanctions by buying Russian oil.

 
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atensari

(50k+ posts) بابائے فورم
تجربہ کار ٹیم ان پر سے "امریکا" اٹھنے کا انتظار کر رہی ہے


امریکا = پابندی
 
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Melanthus

Chief Minister (5k+ posts)
The imported government of beggars has left it too late to sign any deals with Russia.India and China have already signed deals with Russia to buy oil at discounted prices.Russia doesn’t have any extra oil to sell it to Indian companies.The beggars will have to increase price pt petrol soon,
 

Aliimran1

Chief Minister (5k+ posts)

Thanks to Bajwa Bharwa. —— Allah janay yeh bey ghairat Ghuddar kab maray ga ?​