India,China become market for Russian oil

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Kathmandu, June 13. India, China and other countries in Asia have become markets for Russian oil. While US and other European countries have insisted on those countries not to increase their purchase, these states have been an increased source of revenue for Moscow.

According to a think tank based in Finland, Russia has earned around $97.4 billion in the first 100 days of invasion of Ukraine. The data was released by the organization on Monday.

Further, India has consumed 60 million barrels of Russian oil in 2022 so far. The same country consumed 12 million barrels in 2021. Other countries in Asia including China also has received an increased amount of Russian oil.

China was the largest single buyer of Russian oil in 2021. The country purchased 1.6 million barrels per day on average.

Moreover, US and its allies have been engaged in discussions and coordinating measures to establish a cartel for Russian oil.

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