Chinese Dominance of the Russian Oil Market has been overtaken by India as a New Major Player

1. Chinese Dominance of the Russian Oil Market has been overtaken by India as a New Major Player What Percentage of Russian Energy Exports Happens? According to their analysis, the first 100 days of the war saw oil and oil products account for 63% of Russia’s export earnings, followed by gas at 32% and coal at 5%. According to projections by the International Energy Agency, the federal budget of Russia was funded by roughly half of oil and gas earnings in 2021. Highest Oil Importing Countries

2. China and India’s total oil imports from Russia in March this year exceeded those from the 27 EU members in terms of volume. Early this year, India’s purchases of Russian Urals oil, a crude blend generally supplied to Europe, climbed significantly. According to shipping data, India’s imports of the East Siberia Pacific Ocean (ESPO) crude mix from Russia have also increased. Since March, China has increased its purchases of Urals and ESPO. It was claimed to have made record purchases for the second consecutive month at the beginning of July. Three shipments of Russian oil have been sent to Sri Lanka, taking advantage of these reductions as it struggles with a severe economic crisis. You can read the full content: https://www.businessupside.in/chinese-dominance-of-the-russian-oil-market-has-been-overtaken-by-india-a s-a-new-major-player/ Business Upside India Email ID: support@businessupside.co m Phone No.: 1800-270-3002 Visit Us: https://www.businessupside.in/ Stay Connected Via: https://www.facebook.com/businessupside https://www.youtube.com/c/BusinessUpside https://twitter.com/BusinessUpside1 https://www.instagram.com/businessupsideusa/ https://www.linkedin.com/company/businessupside/