China, India make record purchases of Russian crude oil

Immigration inspection officers check an oil tanker carrying imported crude oil at Qingdao port, Shandong, on May 9, 2022. PHOTO: AFP
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SINGAPORE - Asia is quietly emerging as a safe haven for Russia's crude oil exports, with China and India making record purchases for the steeply discounted barrels in April and last month, industry sources told The Straits Times.

Earlier this week, the Kremlin said it would reroute its oil after the European Union - its biggest export market - announced it had agreed to ban most Russian crude oil imports.

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