russia has received $24 billion from the sale of energy resources to China and India during the three months of full-scale war
Countries have paid $13 billion more than the last spring
It is informed that russia has received $24 billion from China and India for the sale of energy resources since the beginning of the full-scale war.
Source. This was reported by Bloomberg.
Details. According to customs data, China spent $18.9 billion on russian oil, gas and coal in the three months to the end of May, having almost doubled the amount a year earlier.
Meanwhile, India shelled out $5.1 billion in the same period, more than five times the value in March – May 2021. In total, these countries paid $13 billion more than last spring.
As Bloomberg writes, the increase in supplies to these countries helps russia compensate for the losses caused by the reduction in supplies to the United States.
“China is already buying essentially everything that russia can export via pipelines and Pacific ports,” says Lauri Myllyvirta, analyst at the Centre for Research on Energy.
The expert also notes, that energy prices are much higher than they were at this time last year, even accounting for the discounts russia is offering to entice purchasers. However, China’s imports continued a slow uptick in June, while India may have incentive to boost purchases even further in the coming months as a European Union ban on russian oil takes effect, Myllyvirta says.
If you have read this article to the end, we hope that means it was useful for you.
We work to ensure that our journalistic and analytical work is of high quality, and we strive to perform it as competently as possible. This also requires financial independence. Support us for only UAH 196 per month.
Become a Mind subscriber for just USD 5 per month and support the development of independent business journalism!
You can unsubscribe at any time in your LIQPAY account or by sending us an email: [email protected]
