India's payment to Putin's government is still far less than that of China. Let's take a look at exactly what India and China are spending on Russian oil in the present market.
In 2022 compared to 2021, both India and China increased their purchases of Russian oil, but for separate purposes, as Katharina Buchholz of Statista explains below.
More infographics can be found at Statista
Between March and May of this year and 2021, China's expenditure on the commodity increased by 78%. Bloomberg reported that this increase can be attributed to the rising cost of oil on the global market. Oil is sent to China from Russia via pipelines that traverse their common border, which reduces the cost of supply but also makes it more difficult to expand it. A further indication that China's spending increase is for roughly the same amount of oil as before the Russian invasion of Ukraine is the simple truth that China had already been purchasing the majority of the oil that could be trans...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
