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Business May 21, 2026

Chinese and Iranian Companies Capitalize on Russia's Occupation of Ukrainian Regions

Chinese and Iranian companies are increasingly operating in Russian-occupied Ukrainian regions, wit…
The LeadChinese and Iranian companies are increasingly establishing economic footholds in Russian-occupied Ukrainian regions, particularly in Donetsk and Luhansk, despite international sanctions and Ukraine's territorial integrity concerns. This growing economic integration, described by analysts as "shadow integration," involves Chinese firms supplying construction equipment and telecommunications infrastructure while Iran integrates the occupied territories into its logistical chains.Chinese Companies Establish Economic PresenceIn November 2023, representatives of two Chinese companies signed a deal to supply stone-crushing machinery for construction projects in what they called the "People's Republic of Donetsk," a Russia-backed separatist statelet in southeastern Ukraine. The companies, identified as Zhongxin Heavy Industrial Machinery and Amma Construction Machinery, supplied equipment to the Karansky quarry in the southern Donetsk region, with the crushed stone being used for construction projects in Russia-occupied areas.According to the Eastern Human Rights Group (EHRG), a Ukraine-based think tank, at least 17 Chinese companies operate in the occupied areas, with almost 6,000 Chinese-made relay stations for cellphone connections installed there. Chinese firms are involved in mining, construction, telecommunications equipment supply, and financial services."As Russia integrates its power in the occupied areas and transfers politicians to occupation administrations, Chinese companies carry out another replacement, but in the economy," said Maksym Butchenko from the EHRG.The Economic Transformation of Occupied RegionsThe occupied regions' economy has undergone significant changes since 2014. Out of 94 coal mines that operated in Donetsk and Luhansk (collectively known as the Donbas) before the conflict, only five remain open. The remaining mines "completely reoriented towards working with China and Russia," according to Butchenko.Furthermore, the occupied regions' economy is "totally yuanised" as local businesses use Chinese electronic payment systems through Telegram channels that offer currency exchange and transfers. The yuan is now sold in 79 banks in the occupied areas, creating a financial ecosystem increasingly dependent on China."This is a threatening precedent from the viewpoint of international politics and law because this violates international agreements," Butchenko stated, calling China's approach "shadow integration."Iran's Strategic Economic PartnershipsMoscow reportedly encourages the occupied regions to develop ties with Iran, creating another layer of economic integration beyond China. Tehran buys grain and coal from the occupied territories and "integrates the economy of occupied Donbas into its own logistical chains created after decades of isolation," according to the EHRG.Donskiye Ugli, a Russian coal mining company operating "nationalized" mines in Donetsk and Luhansk, ships the fossil fuel to Iran, according to separatist official Andrey Chertkov. Additionally, local food producers in the occupied territories have begun supplying casein, a milk protein, to Iran."The Kremlin not only gives permission to Iranian companies to enter the occupied areas' market but also encourages them," Butchenko explained, highlighting Russia's active role in facilitating these economic partnerships.International Response and Future ImplicationsBeijing maintains its official position of supporting Ukraine's territorial integrity while calling the Russia-Ukraine war a "crisis." However, unofficially, Chinese companies have "almost captured the entire market in the occupied areas," according to Butchenko.Kyiv has sanctioned Chinese companies operating in the occupied regions, including Alibaba and the China National Petroleum Corporation, and urges Western nations to follow suit. Despite these sanctions, Chinese companies continue to operate, often offering lower prices and technical expertise that is difficult to replace."China is here for good," a business owner in Donetsk told Al Jazeera. "All new equipment here is Chinese from machine tools to ventilators." This growing economic presence, combined with Iran's increasing involvement, suggests that the economic integration of these occupied territories with China and Iran will continue to deepen, potentially creating long-term challenges for Ukraine's territorial integrity and for international efforts to isolate Russia economically.
#China #Iran #Russia
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Politics May 20, 2026

Russia and China Solidify Alliance in 'Multipolar World' Vision

Russian President Putin and Chinese President Xi Jinping signed a joint declaration following their…
The Lead: A New Global OrderRussian President Vladimir Putin and his Chinese counterpart, Xi Jinping, have signed a joint declaration following their meeting in Beijing, focusing on building a "multipolar world and a new type of international relations". The two countries also announced that they had signed a large package of deals solidifying bilateral cooperation in the future.The meeting came just days after United States President Donald Trump completed his own visit to China for a two-day summit with Xi.Establishing a Multipolar World OrderOn Wednesday, the Chinese Foreign Ministry said: "The two countries will also issue a joint statement on advocating for a multipolar world and a new type of international relations." Russian presidential aide Yuri Ushakov described this declaration as a 47-page policy document.A "multipolar world" is understood as one in which economic, military and diplomatic power and influence are placed in the hands of three or more countries, rather than just one or two."Xi is calling for a more multipolar world, where the US has less power and influence," Al Jazeera's Katrina Yu reported from Beijing as the meeting was under way.Both Putin and Xi have spoken out against the "unipolar" hegemony that they say the US has over the world.In 2022, shortly after the beginning of Russia's war with Ukraine, Putin accused the US of stoking hostilities in Ukraine to maintain its global influence."They need conflicts to retain their hegemony," Putin said during a speech. "The era of the unipolar world order is nearing its end."Chinese state media reported that during the latest meeting, Xi said to Putin: "The tide of unilateral hegemony is running rampant."Russia-China Relations Reach Unprecedented LevelA press statement posted on the Kremlin website said relations between Russia and China had reached "a truly unprecedented level and continue to develop".The Chinese Foreign Ministry statement said: "Both sides should follow the trend of peace, development, cooperation, and win-win results to promote higher-quality development of China-Russia relations."The statements added that bilateral cooperation extends to the worlds of economics, sport, education and the media.The Kremlin statement adds that this year marks the 70th anniversary of partnership between the Russian TASS news agency and the Chinese Xinhua news agency.Deepening Economic Cooperation and Moving Away from the US DollarThe Kremlin statement said Beijing and Moscow had signed around 40 intergovernmental, interagency and corporate documents. "Many of these focus on the further deepening of our economic cooperation," it noted.The statement added that, last year, trade between the two countries reached almost $240bn, while the Chinese statement said bilateral trade grew by 20 percent in the first four months of this year.Since the war in Ukraine broke out in February 2022, Russia has become increasingly reliant on Chinese technology and manufacturing. Last month, Bloomberg reported that Russia now imports more than 90 percent of the technology targeted by US and European Union sanctions via China, using Chinese suppliers and intermediaries to obtain components with military and dual‑use applications vital to drone production and other defence industries."Both sides should build on this momentum, deepen the alignment of China's 15th Five-Year Plan with Russia's development strategy until 2030, promote the upgrading of mutually beneficial cooperation in various fields, and serve the development and revitalization of both countries," the Chinese ministry statement said.The Kremlin statement said that nearly all import and export transactions between Russia and China are in roubles and yuan. "In other words, we have actually created a stable system of mutual trade that is protected from external influence and negative trends in the global markets," it said.Securing Energy Supplies Through Siberia 2 PipelineThe Kremlin said on Wednesday that an understanding had been reached for the route and construction of the long-delayed joint Siberia 2 pipeline, but details are still being negotiated. Once completed, the pipeline will transport 50 billion cubic metres of Russian gas annually to China via Mongolia, significantly expanding energy flows between the two countries.The Kremlin's statement said that Russia and China are actively cooperating in the sphere of energy."Our country is one of the largest exporters of oil, natural gas (including LNG) and coal to China. We are definitely ready to continue to ensure reliable and uninterrupted supplies of these types of fuel to the rapidly growing Chinese market," the statement said.As European markets have largely closed to Russia as a result of the war in Ukraine, China has emerged as a crucial buyer of Russian oil and other energy products, benefitting from steep discounts on Russian products.In December 2022, the Group of Seven (G7), the EU and Australia placed a cap on the price of Russian oil at $60 per barrel, ostensibly to reduce Russia's ability to fund its war in Ukraine. The cap was later reduced to around $48 by the EU and the United Kingdom.Expanding Educational and Scientific TiesBoth statements said Xi and Putin had agreed to expand student exchange programmes and cooperation between universities and research platforms to boost joint scientific research.
#Putin #Xi Jinping #Russia
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Politics May 20, 2026

The Diplomatic Tightrope: How China Balances Washington and Moscow

In May 2026, China orchestrated a high-stakes diplomatic theater by hosting back-to-back state visi…
The Diplomatic Tightrope: Hosting Rivals as Partners In a masterclass in geopolitical theater, Xi Jinping orchestrated a rare spectacle in May 2026 by welcoming Donald Trump and Vladimir Putin to Beijing within the same month. While the ceremonies were designed to project an image of equal grandeur, the underlying diplomatic signals revealed a clear hierarchy of priorities. The Choreography of Power: Mirrored Ceremonies with Divergent Meanings Both leaders were greeted with military bands, honour guards, and crowds waving national flags, creating a visual symmetry intended to showcase Beijing's status as a global power broker. However, the protocol revealed the true nature of these relationships. Trump's Reception: Met by the Vice President, a largely ceremonial figure outside the core of Communist Party power. Putin's Reception: Welcomed by a sitting Politburo member, signaling that Moscow is viewed as a trusted partner in a new non-western order. State media in Moscow even went so far as to characterize the visits, suggesting Trump was treated as a "rival and competitor" while Putin was received as an "ally and reliable partner." The Kremlin attempted to downplay comparisons, but the message in the Chinese press was unmistakable. The Asymmetry of Protocol: Why Putin Trumped Trump The distinction in reception was not accidental. It highlighted China's strategic calculus: while the US remains a critical economic partner, Russia is increasingly seen as a strategic lifeline. This was particularly evident in the outcomes of the summits. Economic Stagnation with the US: Little progress was made on critical disputes over Nvidia chip exports and tariffs. Vague Energy Promises to Russia: Despite high hopes, no concrete announcement was made on the long-delayed Power of Siberia 2 gas pipeline. The backdrop of the US-Iran war and the closure of the Strait of Hormuz has forced Moscow to pivot east, transforming the partnership into an increasingly asymmetric relationship where China holds the leverage. The Strategic Outcome: Xi's Global Stage vs. Concrete Gains Ultimately, the biggest winner from this diplomatic flurry was Xi Jinping. By hosting both leaders, he projected an image of a statesman capable of managing rival superpowers. The visits allowed him to remind the world of China's growing influence and its role as the economic lifeline for a struggling Russia. Future Outlook: While the optics were strong, the substance was thin. The summits served as a display of strength rather than a mechanism for resolving deep-seated conflicts. As the world grapples with energy instability and shifting alliances, Beijing is solidifying its position as the central node in a new, multipolar world order.
#Xi Jinping #Donald Trump #Vladimir Putin
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World Wide May 20, 2026

Russia's War in Ukraine Takes a Devastating Toll on Wildlife

Russia's ongoing war in Ukraine has had a profound impact on the country's wildlife, with many spec…
The Devastating Impact of War on Ukraine's Wildlife Russia's aerial war has had a devastating impact on Ukraine's wildlife, including its birds. Thousands have been caught in nets put up to protect roads near the frontline from marauding enemy drones. Others have been killed as a result of explosions, fires, and pollution. The Plight of Sunny the Owl A male long-eared owl, nicknamed Sunny, was blinded in one eye and found with a badly broken wing after Russia sent kamikaze drones to attack the Ukrainian city of Zaporizhzhia in February. A passerby scooped up the stunned bird, put him in a box, and took him to the city of Dnipro. The War's Impact on Ukraine's Ecosystem The war has affected nature reserves that are important breeding grounds for migratory species. Moscow has repeatedly targeted six hydroelectric power stations and reservoirs along the Dnipro river. In 2023, the Russian military blew up the Kakhovka dam at the bottom of a Soviet-built cascade, causing massive flooding and destruction. The Human Impact on Wildlife Conservation Veronica Konkova, a biologist, has been rescuing wounded birds since 2015. Her birds have included a rare imperial eagle, peregrine falcons, buzzards, kestrels, black kites, and a variety of owls. Konkova said: 'Sometimes we can save these birds. Other times they arrive in such bad condition there's nothing we can do.' The Future of Ukraine's Wildlife Despite the challenges, there is some good news. On a cold and windy day last week, three or four grebes could be seen at the Dnipro-Oril reserve, their numbers increasing. Also visible were yellow-legged gulls, a wood sandpiper, and a newly returned swallow, swooping low over the water.
#Russia #Ukraine #Wildlife
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Entertainment May 20, 2026

Minotaur Review: Zvyagintsev's Noir Thriller Reflects Russia's Wartime Disillusionment

Andrei Zvyagintsev's 'Minotaur' is a scorching noir thriller set in wartime Russia, exploring theme…
The Film's Wartime ContextLife during wartime is the central theme of Andrei Zvyagintsev's latest film, 'Minotaur.' Set in provincial Russia, the movie presents a portrait of a nation paralyzed with disillusionment and fear, slowly coming to terms with, or retreating into collective denial about, the terrible mistake in Ukraine. The film draws inspiration from Claude Chabrol's 'La Femme Infidèle' (1969), Gogol's 'Dead Souls,' and the Greek myth of the Minotaur requiring 14 sacrifices.At its core, 'Minotaur' is a noir thriller of infidelity and vengeful murder, given new meaning by the context of deadly cynicism and political bad faith. It depicts a world in which powerful people, consumed by self-hate, have made covering up misdeeds their way of life.The Narrative of DisillusionmentThe story follows Gleb, a mini-oligarch businessman played by Dmitriy Mazurov, who lives in a town far from Moscow with his elegant but unhappy wife Galina (Iris Lebedeva) and their teen son. The setting is marked by the presence of the letter Z on car windshields and military trains, symbolizing support for the war effort.Gleb's marriage has been damaged by his past infidelities, and now he suspects his wife of cheating. However, more pressing matters emerge when local business leaders are summoned by the mayor (whose office displays a photo of Putin) and instructed to provide disposable male employees for the war effort.The Director's VisionZvyagintsev, who survived a severe bout of COVID-19 that caused 90% lung damage according to a related Guardian article, delivers a film with cold daylit compositions and scenes in grim streets and housing estates. Everything in the film looks like a crime scene, reflecting the moral decay at its center.The performances from Mazurov and Lebedeva are outstanding, particularly in the film's central extended silent sequence. Zvyagintsev masterfully portrays the chilling moral compromises made by characters who have normalized violence and deception as survival mechanisms in a corrupt system.Cultural and Political Commentary'Minotaur' functions as both personal drama and societal critique. When Gleb must provide 14 employees for the war, he calculates that he can advertise for 14 truck drivers with inflated salaries, knowing they'll be drafted before he ever has to pay them. This scheme represents the soul-blackening evil of a system that treats human lives as disposable commodities.The film also explores toxic masculinity through a scene where Gleb teaches his bullied son to threaten violence rather than seek help from authorities. This moment reveals the poisonous education in violence that perpetuates cycles of aggression and dehumanization.Festival Reception and SignificanceScreened at the prestigious Cannes film festival, 'Minotaur' continues Zvyagintsev's tradition of creating politically charged cinema that holds up a mirror to contemporary Russian society. The film's exploration of moral compromise in wartime positions it as a significant cultural document of Russia's current social and political climate.As Russia's war in Ukraine continues, 'Minotaur' serves as both artistic expression and implicit commentary on the psychological and moral costs of a nation at war with itself and its neighbors. The film's noir elements are amplified by the real-world context of deception, cover-ups, and the sacrifice of ordinary people for political agendas.
#Minotaur #Andrei Zvyagintsev #Cannes Film Festival
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World Wide May 20, 2026

Russia's War Stance: Is Moscow 'Simulating Diplomacy' Due to Ukraine Losses?

Russia's recent statements on peace negotiations with Ukraine have been met with skepticism, with s…
The Lead Russian President Vladimir Putin's recent remarks on the possibility of winding down the war in Ukraine have sparked skepticism among analysts and Ukrainian officials. Despite Moscow's claims of openness to negotiations, many believe that Russia is merely 'simulating diplomacy' to gain an advantage. Moscow's Shifting Stance on Diplomacy Putin's comments on the war's potential end came after a recent escalation in drone attacks on Russian territory, including a strike on Moscow that killed at least three people. The Russian Ministry of Defence claimed to have shot down over 1,000 drones in 24 hours. The Data Analysis Over four years of war in Ukraine, resulting in hundreds of thousands of lives lost. Recent drone attacks on Russian territory, including Moscow, have killed civilians and raised tensions. 1,000 drones reportedly shot down by Russian forces in 24 hours. The Impact Analysis Analysts argue that Russia's continued military actions and insistence on certain conditions for peace talks are indicative of a strategy to 'play for time.' This allows Russia to adapt and overcome Ukraine's military advancements, such as drone production and deep strike capabilities. The Prediction As European elections approach, some analysts warn that a shift in the political landscape could affect Ukraine's support from the EU. However, others believe that Ukraine's intensifying strikes on Russian targets may ultimately force Moscow to negotiate on more favorable terms.
#Russia #Ukraine #Vladimir Putin
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Politics May 20, 2026

Xi Jinping and Putin Meet in Beijing Amid Shifting Global Dynamics

Chinese President Xi Jinping welcomed Russian President Vladimir Putin for high-level talks in Beij…
The Lead: A Diplomatic Pivot in BeijingChinese President Xi Jinping welcomed Russian President Vladimir Putin with military ceremony and pageantry in the Great Hall of the People, marking a significant diplomatic meeting just days after Xi hosted US President Donald Trump in the same location. The high-profile summit underscores China's delicate diplomatic balancing act between major global powers as it navigates complex international relationships.The Event Details: Ceremonial Beginnings and Diplomatic StructureThe meeting began with a formal ceremony featuring Chinese soldiers in position as a military band played the Russian and Chinese national anthems. Children waving both countries' flags cheered "Welcome, welcome!" in Chinese before the leaders entered the Great Hall. The talks followed a structured format, beginning with a "narrow format meeting" featuring fewer delegates to discuss sensitive issues, followed by a "wide format meeting" with full delegations. Chinese Foreign Minister Wang Yi, who greeted Putin upon his arrival, also held talks with his Russian counterpart Sergei Lavrov.The Strategic Context: Balancing Global RelationshipsThe timing of Putin's visit, coming so soon after Trump's meeting with Xi, has drawn significant attention to China's diplomatic positioning. In his opening remarks, Xi expressed concerns about the world reverting to the "law of the jungle," while Putin hailed the countries' relationship as being at an "unprecedented level." The contrast between China's approach to Putin versus Trump is notable, with the warm relationship between Xi and Putin standing in contrast to the more adversarial nature of US-China relations. The leaders have developed increasingly close ties, referring to each other as "dear" and "old" friends in recent years.The Global Implications: Regional Conflicts and Economic AlliancesBoth leaders addressed the Middle East crisis during their talks, with Xi stating that further hostilities were "inadvisable" and that a "comprehensive ceasefire is of utmost urgency." Meanwhile, Putin emphasized Russia's role as a "reliable energy supplier" amid the ongoing crisis. For Putin, reciprocal trade and investment are likely top priorities as his sanctions-hit economy continues to suffer under the growing cost of Moscow's war in Ukraine. Notably, as Xi prepared to welcome Putin, China confirmed it will purchase 200 Boeing jets and seek an extension of the trade agreement with the US reached in Kuala Lumpur last year, signaling China's continued economic engagement with multiple global powers.The Future Outlook: Evolving International DynamicsThe optics and outcomes of Xi's meeting with Putin will be carefully analyzed, particularly given its proximity to the Trump visit. The summit highlights China's strategy of engaging with multiple major powers simultaneously while maintaining its own strategic interests. Putin's invitation for Xi to visit Russia next year suggests the continuation of this warming relationship. As global power dynamics continue to shift, China's ability to navigate complex relationships with both Russia and the US will remain a critical factor in international diplomacy, with potential implications for everything from regional conflicts to global economic stability.
#Xi Jinping #Vladimir Putin #China-Russia relations
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Politics May 20, 2026

Putin Meets Xi: Why Russia and China’s Partnership Is Becoming Indispensable

Russian President Vladimir Putin arrived in Beijing for a two‑day state visit, meeting Xi Jinping a…
On May 19, 2026, Russian President Vladimir Putin began a two‑day state visit to China, meeting President Xi Jinping amid a deepening partnership driven by Western sanctions, the Ukraine war, and growing concerns over energy security.Putin’s Beijing Visit Signals a New Phase in Russia‑China CooperationThe visit marks the second face‑to‑face meeting between the two leaders in less than a year and coincides with the 25th anniversary of the 2001 Treaty of Good‑Neighbourliness and Friendly Cooperation. Both leaders framed the talks as a reaffirmation of “friendship” and a commitment to expand cooperation across politics, economics, defence and culture.Trade Numbers Reveal a Rapidly Expanding Economic BondBilaterial commerce has surged dramatically since the start of the Ukraine conflict:Two‑way trade more than doubled between 2020 and 2024.In 2024 the total reached $237 bn, the highest level recorded.China is now Russia’s largest trading partner, while Russia accounts for only about 4 % of China’s total international trade.Despite the imbalance, the volume of Russian oil and gas flowing to China has become a critical lifeline for Moscow as European markets close to Russian energy.Strategic Imperatives: Energy, Technology, and Geopolitical AlignmentRussia’s wartime economy increasingly depends on Chinese technology; a Bloomberg report found that over 90 % of sanctioned tech imports now originate from China, including components vital for drones and other defence systems.For Beijing, Russian energy offers a hedge against disruptions in the Strait of Hormuz and other maritime chokepoints. The long‑delayed Power of Siberia 2 pipeline, projected to deliver 50 bcm of gas annually, is a focal point of the current talks.Both capitals also benefit from diplomatic coordination as permanent UN Security Council members, regularly aligning against U.S.–led initiatives.Implications for Global Power DynamicsThe back‑to‑back hosting of Donald Trump and Vladimir Putin in Beijing highlights China’s ambition to position itself as a stabilising actor in a fragmented world order. Analysts warn that Beijing’s leverage—derived from its economic size and access to Russian energy—allows it to negotiate favourable terms while deepening Moscow’s dependence.Joint military exercises, such as the “Joint Sea” drills, reinforce a strategic partnership without formal alliance commitments, signaling to the West a durable, flexible alignment.Looking Ahead: Pipeline Projects and the Future Balance of PowerIf the Power of Siberia 2 pipeline is completed, energy interdependence will intensify, potentially reshaping regional energy markets and giving China greater influence over Moscow’s economic trajectory.Experts predict that the partnership will continue to evolve around pragmatic interests—energy security for China and economic survival for Russia—rather than ideological affinity, making it a resilient pillar of the emerging multipolar order.
#Vladimir Putin #Xi Jinping #Russia-China relations
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Business May 19, 2026

US Extends Sanctions Waiver on Russian Oil: Market Impact

The US has extended a 30-day sanctions waiver for countries buying Russian oil and petroleum produc…
The US Sanctions Waiver Extension The United States has announced another 30-day extension of a sanctions waiver for countries buying Russian oil and petroleum products currently already loaded on tankers at sea. This decision, announced by Treasury Secretary Scott Bessent, will last until June 17 and aims to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea. The Impact on Global Energy Markets The extension will provide additional flexibility, and the US will work with these nations to provide specific licenses as needed. This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries. It will also help reroute existing supply to countries most in need by reducing China’s ability to stockpile discounted oil. The Data Analysis According to analytics firm Kpler, there is currently about 113 million barrels of oil or liquid volume (Mbbl) of Russian crude and condensate loaded on ships and at sea. Russian crude oil in transit is approximately 106Mbbls. Floating storage of Russian crude has declined significantly since the start of the year from a high of about 19Mbbls in late January to 7Mbbls now. The Impact Analysis The US waiver extension works in Moscow’s favor as it allows for more trade over a shorter distance. Despite US President Donald Trump claiming to have extracted a promise from Indian Prime Minister Narendra Modi to stop buying Russian oil, India and China remain consistent purchasers of Russian oil. In fact, Russian oil exports to India stood at more than 2 million bpd last month, while exports to China remained strong at 1.05 million bpd. The Prediction With the sanctions waiver now extended, Russian oil exports to other countries are likely to grow. However, experts believe that the impact of the waiver on prices will be limited, given that it only applies to oil already loaded on ships before mid-April. As a result, oil prices are likely to continue rising for as long as traffic through the Strait of Hormuz remains disrupted.
#US #Russia #Sanctions
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