Economy

China and India Received Record Amounts of Russian Crude in May

Data from two top ship tracking firms revealed that shipments of Russian crude oil to China and India, Russia’s top two buyers, rose by ten percent in May to hit record levels despite the Biden administration’s pleas to cut down on Moscow’s prodigious income stream by respecting sanctions and price caps.

The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye, Russia, on Friday, Oct. 29, 2021. A new report says Russia sent significantly more oil and coal to India and China over the summer compared with the start of the …