Russia earns USD 24 billion from sales of fossil fuel to China and India, as reported by Ukrainian The Kyiv Independent with reference to Bloomberg.
Since energy prices have increased considerably since Russia’s invasion of Ukraine, Russia has sold oil, gas and coal to China worth nearly USD 19 billion, doubling its last year’s index.
India has paid Russia approximately USD 5 billion for the same period. This is five times more when compared to a year prior. According to analyst Lauri Myllyvirta, China buys basically everything Russia can export using the pipelines and ports in the Pacific Ocean.
The European Union, the US and multiple other countries have imposed a number of sanctions against Russia and Belarus. The EU has even drawn a course to completely stop using Russian gas and oil.
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