A Japanese newspaper writes that the effectiveness of Western sanctions against the Russian Federation has decreased due to increased purchases of Russia’s energy resources by China and India. Nihon Keizai.
The publication drew attention to the fact that the USA and the European Union imposed restrictions on the supply of Russian oil, while India and China increased their purchases. As a result, Russia “received increased revenue from energy exports, supported by Sino-Indian purchases,” while the effectiveness of European and American sanctions “decreased significantly,” the article says.
According to Refinitiv, the volume of oil China imported from Russia by sea in May, excluding pipelines, amounted to about 800,000 barrels per day, up more than 40% from January. Zero in January, just under 700,000 barrels a day in May. The authors of the publication described these figures as “impressive.”
He also says that Russia’s gas and coal exports to India have increased significantly, while China is working to expand the supply of these raw materials.
In addition, the publication states that the economic benefit of purchasing cheaper Russian energy is great.
“There are also fears that more countries and organizations will take detours regarding sanctions, such as forgery of ship registrations and destinations,” the article states.
Former US President Joe Biden declarationWestern countries are discussing the possibility of buying oil at a lower price, rather than refusing to import it from the Russian Federation. According to him, in this case Russia will retain the ability to export oil, but at a price significantly lower than the market price.
On February 24, Russian President Vladimir Putin announced that he had decided to organize a military special operation in Ukraine in response to a request for assistance from the heads of the LPR and DPR. The decision to run the operation was the reason for new sanctions against Russia by the United States and its allies.