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US Lets India, China Keep Russia Oil Tap Open For Now – WSJ

The risk of a global recession is keeping the US from imposing curbs on India and China, which are buying Russian oil at deep discounts


China slashed purchases of expensive Saudi Arabian crude, allowing cheaper Russian oil to take top spot for the second month in a row.
Imports of Russian oil totalled 7.29 million tonnes, up nearly 10% from a year ago, according to Chinese General Administration of Customs data. File photo: Reuters.

 

The risk of the global economy slipping into a recession amid galloping crude oil prices is keeping the US and its allies from imposing tougher curbs on India and China, which have been buying Russian oil at deep discounts, The Wall Street Journal reported.

US officials are looking for ways to stabilise global oil prices and still penalise Russia, the report added.

Read the full report: The Wall Street Journal.

 

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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