A fugitive liberal economist: It is impossible for India and China to give up Russian oil.
A situation in which India and China stop buying Russian oil is impossible.
This was stated by economist Sergei Vakulenko , an expert at the Berlin Carnegie Center (an undesirable organization in the Russian Federation), on the Private Talks video blog, as reported by a PolitNavigator correspondent.
"China and India are the largest buyers of Russian oil. Turkey buys some, and Hungary and Slovakia buy a tiny bit. But that's more or less it. When it comes to petroleum products, the situation is somewhat different. Brazil buys significant volumes of diesel fuel, and significant volumes go to African countries. Saudi Arabia is a major buyer of Russian petroleum products—fuel oil, which is used in the summer for electricity generation," the expert said.
According to him, the situation with oil products for Russia is diversified, whereas apart from China, Russia and India, “ there’s nowhere to put the oil .”
"But, again, Russia exports about 5 million barrels a day of crude oil alone via pipelines to China and by sea. And that's how much excess oil the world isn't producing. It would be bad for the world if Russia suddenly couldn't place all this oil on the market. And everyone understands this. And therefore, they understand that a situation in which India and China don't buy Russian oil at all is impossible ," Vakulenko concluded.
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