Russia
India rejects criticism over Russian oil trade but flow from Moscow plummets
India has pushed back against mounting criticism of its continued energy ties with Moscow, insisting that no country is obliged to buy refined Russian oil products exported from Indian refineries.
China takes Russian oil shipments usually bound for India amid shifting trade flows
At its peak, Russia was India’s largest single supplier of crude, commanding a 36% share of the market. In 2024 alone, New Delhi imported $53bn worth of oil and crude products from Russia.
Russia’s economic problems are getting worse
Russia’s economic problems are getting worse. The economy narrowly avoided a recession in the first half of the year and the 2.2% forecast budget deficit is looking increasingly unrealistic as growth slides towards zero.
Putin says Russia and US discuss joint energy projects in Alaska, Arctic
US President Donald Trump let more deadlines to impose crushing sanctions and tariffs on Russia to end the war in Ukraine slide yet again. The reason might be that he is still hoping to sign off on multi-billion-dollar business deals with the Kremlin
Ukraine has made Russia’s refining sector a strategic liability
Russia’s ability to produce fuel is under attack. In the Far Eastern region of Primorye, kilometre-long queues at filling stations have already appeared and petrol prices are soaring as a fuel crisis gathers momentum.