China and India buy Russian oil at very low prices, which other countries refuse (due to the sanctions introduced after the start of the war in Ukraine). This circumstance, along with rising prices, led to the fact that, according to the International Energy Agency (IEA), Russia received the alleged revenue from oil exports in May in the amount of $ 20 billion, which is $ 1.7 billion more than in April than in April , reports Euronews.
So, the import of Russian oil to China grew by 28%in May. According to Kepler marketing research agencies, since the beginning of 2022, India has already consumed about 60 million barrels of Russian oil compared to 12 million barrels for the entire previous year.
Indian export of oil products, such as diesel fuel, has increased by 20% since the invasion of Ukraine began. Wall Street Journal reported that Indian companies buy Russian oil, process and then sell (including in the USA) in the form of oil products that the sanctions are not applied to.