Reports: West Touts Rejecting Russian Oil While India, China, and Others Snap Up Supply

Reports: West Touts Rejecting Russian Oil While India, China, and Others Snap Up Supply


The United States and much of the West say they are trying to ween themselves off of Russian oil, but India, China, and other Asian countries are snapping up the supply, according to an Associated Press (AP) article published Monday.

A June 8 analysis from the Center for Strategic and International Studies explains why Russia is still benefiting from its lucrative oil and gas industries despite the virtue signaling from some nations:

The European Union has imposed a partial embargo on Russian crude oil and petroleum products, as well as a ban on shipping insurance for oil exports from Russia. But it may be hard to achieve its goal of taking Russian oil off the market and cutting Russian export revenue without hurting consumers

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend