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Infographic: Asia's crude oil diplomacy

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Infographic: Asia's crude oil diplomacy


India, China embrace cheap Russian crude but South Korea, Japan comply with sanctions

  • Author
  • Phillip Vahn    Sambit Mohanty    Analysts Daisy Xu    --Analyst Oceana Zhou    Junaid Rehman
  • Commodity
  • Oil
  • Topic
  • Asia-Pacific Energy Crisis OPEC+ Oil Output Cuts Infographics War in Ukraine

Hefty discounts on Russia's crude are increasingly whetting the appetite of China's state-run and independent refineries, while Indian refiners' demand for cheap Russian crude is the strongest ever. Both China and India are stepping up efforts to ensure that surging global prices do not hinder the fragile economic recovery and nascent revival in domestic oil product consumption. However, South Korea and Japan are leading the regional alliance against Russian oil, with refiners indicating that cheap barrels from Russia are not worth taking for those keen on maintaining corporate reputations and willing to stand in solidarity against all acts of violence.

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Asia's crude oil diplomacy