Russia now top crude oil supplier to China even as sanctions choke off sales to Europe

Russian Energy Minister Nikolai Shulginov said that Moscow would respond to the price cap by shipping more oil to Asia. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

SINGAPORE - Russia's oil exports continue to defy sanctions and are finding willing buyers in Asia, with China and India maintaining their voracious appetite for the discounted crude, industry sources told The Straits Times.

The country is fighting to make sure that moves in early September by finance ministers of the United States, Germany, Italy, Japan, Britain, France and Canada to consider capping the price of Russian crude to reduce Moscow's revenue will not hinder shipments.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.