Offices in China and India were immediately affected by US President Donald Trump’s efforts to financially strangle Moscow’s war machine in Ukraine by enforcing sanctions on Russian oil companies.
According to industry insiders, some oil companies began rescinding orders in order to meet a deadline of November 21 after Russia’s two biggest oil companies, Rosneft and Lukoil, were sanctioned.
China and India, the two most populous countries in the world, have so far mostly ignored the American leader’s requests that they cease purchasing Russian oil and his threats of what would occur if they do not.
Early indications of compliance with Trump’s “tremendous” sanctions, however, might only be a holding pattern, according to analysts, as participants devise new strategies for delivering and obtaining inexpensive Russian black gold through a complex workaround system that includes middlemen and a “shadow fleet” of tankers with unclear ownership.
Asia may decide how severely Trump’s sanctions affect Russia. According to estimates, a sizable share of the 3.5–4.5 million barrels of Russian oil that China and India import each day comes from companies sanctioned recently.
Also Read:
Marjanae Truesdale: Transforming Love through Awareness and Spiritual Intuition
Professor Paul Robert Vogt: A Global Mission to Transform Heart Surgery
