Faced with Western sanctions, Russia wants to sell more oil, gas and coal to China and India. Vladimir Poutine called, on April 14, to “gradually reorient exports towards the rapidly growing markets of the South and the East”. China, the world’s largest energy market, and India, the third largest, are the obvious destinations.
But this desire is not easy to achieve, especially for natural gas exports initially intended for Europe, which would require the construction of major infrastructure (ports and pipelines). As for sending oil by ship, it involves additional risks and costs, with insurers refusing to cover tankers with Russian cargoes, for fear of Western financial sanctions.
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