Russia has earned 24 billion in just three months from selling fuel to India and China. The country has made this income in the three months since the start of the campaign in Ukraine. News from Al Jazeera.
According to the report, China paid Russia ৮ 16.9 billion for fuel in the three months from March to May. Which is double that of the same period last year. India, on the other hand, paid Russia 5.1 billion in fuel during the period. Which is five times more than other times.
Laurie Milvirta, the chief analyst at the Center for Research on Energy and Clean Air, said China was buying all the essential goods that Russia could export using pipelines and Pacific ports.
Russia has long-standing trade and strategic ties with China. Moscow has strengthened trade flows with the two countries this year, with decentralization and the opportunity to pay in local currency.
China is the world's largest importer of energy. They have dedicated pipelines for Siberian oil and gas imports. Although the country's energy consumption was low in the first six months of 2022 due to the lockdown in Corona, they had to spend a lot of money to buy Russian fuel during this period due to high prices.
On the other hand, India's oil and coal imports from Russia have increased since the start of the Ukraine war. During the same period, Delhi also bought three shipments of liquefied natural gas from Russia.