Putin Needs Help From China and India on Oil Europe Doesn’t Want
- European Union moves closer to ban on Russian seaborne imports
- Top Asian buyers can still handle a little more Urals: Traders
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President Vladimir Putin may need to count even more on China and India should the European Union ban Russian oil, with few other takers in Asia able to process the type of crude Europe typically buys.
EU leaders agreed to pursue a partial embargo on Russian crude oil shipped on sea, potentially costing Putin up to $10 billion a year in lost export revenue.