Nations Turn To Russia For Discounted Oil

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Nations Turn To Russia For Discounted Oil

According to shipping data nations in Asia are turning to Russia for discounted oil.

This is taking place as global energy prices remain high.

It also comes at a time when western nations seek to scale down their reliance on Russian energy.

India and China have been buying bulk of the oil.

Recently Russia President , Vladimir Putin, met Prime Minister of India, Narendra Modi, at the Shanghai Cooperation Organisation summit in Uzbekistan.

At the event President Putin spoke about the trade between both countries adding it was growing.

Although exports to the European Union have fallen since Russia’s invasion of Ukraine, the bloc is still buying a significant amount – over one million barrels of oil per day.

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