China and India buy record volumes of oil from Russia


May 27, Fineko/ Asia overtook Europe for the first time on oil purchases from Russia this April amid the refusal of a number of European countries to import Russian fuel because of the situation in Ukraine, ABC.AZ reports with reference to the foreign media.

At that, the transit of Russian raw materials by sea is growing: last week there were from 74 million to 79 million barrels of oil on tankers. This is almost 3-fold more than the sea transit before the start of the "military special operation" in Ukraine and the West's discussions of the oil embargo against Russia (27 million barrels).

Asia overtook Europe as the largest buyer for the first time last month, and this difference between the two regions is expected to widen in May.

While the U.S., UK and many European companies stopped buying oil in Ukraine after the war, this situation directed the Moscow government to Asian buyers.