President Putin To Depend More On China & India As EU Could Ban Russian Oil

As European Union considers banning Russian energy, President Vladimir Putin might have to rely more on China and India. EU leaders decided to seek a partial embargo on Russian crude oil shipments by sea, which could cost Putin up to $10 billion in lost export earnings per year. However, with China and India already buying enormous quantities of Russian oil, there is limit to how much they can reasonably buy.