China and India are snapping up Russian oil

China and India are snapping up Russian oil
A Ukrainian service member holds a next generation light anti-tank weapon (NLAW) in front of another one holding a rifle at a position on the front line in the north Kyiv region, Ukraine March 24, 2022. REUTERS/Gleb Garanich

With this Russian invasion of Ukraine, the West’s main goal has been to isolate Russia in every way possible. But there are reports of China and India helping the economy out by buying oil from Russia since it’s so much cheaper now.

China is generally pretty neutral when it comes to other countries’ conflicts. But, so far, Xi has spoken to many world leaders about the invasion, except he hasn’t yet spoken to Zelenskiy, which is raising a few eyebrows.

Key comments:

“Already committed oil cargoes from Russia that can’t find buyers in Europe are being bought by India,” said Alex Booth, the head of research at Kpler. “Exports to India surged in March before any official announcement by New Delhi.”

“India is going to face an increasingly challenging situation as Russia’s atrocities become more apparent and more widespread,” said Ken Juster, a former US ambassador to India. “It’s going to be difficult for any country not to come out and condemn this.”

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