大象传媒

There have been many restrictions on oil and gas imports from Russia after it invaded Ukraine in February. The US has declared a complete ban on Russian oil, gas and coal imports, the UK is to phase out Russian oil by the end of the year, and the EU is reducing its Russian gas imports by two-thirds.

From the beginning of war in Ukraine Russia has been seeking new markets for its oil exports as Western sanctions tighten, and several countries in Asia have been taking advantage of discounted prices that Russia has introduced.聽 Shruti Menon, a 大象传媒 Reality Check correspondent, says that traditionally, India has sourced its oil from Middle Eastern countries such as Iraq and Saudi Arabia, but now, with the discounts, oil imports from Russia have been at a record high, and that this trend will continue with May and June's imports "significantly higher". She thinks that more Asian countries will also be taking advantage of these and following India's example.

The US has said that although buying oil from Russia does not violate sanctions, its purchase can also be interpreted as support for the invasion of Ukraine, and the Indian government says it is looking at all options for its oil.

Photo: Railroad freight cars, including oil tanks, in Omsk, Russia Credit: Reuters

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