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India and China are still snapping up Russian oil - but they are demanding huge bargains which is hitting Kremlin's war chest

2 monthes ago   |   By Business Insider

Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, and Chinese leader Xi Jinping. Mikhail Svetlov/Getty Images
India and China now account for two-thirds of seaborne Russia crude oil exports.
As major customers, they are demanding huge discounts from Russia, hitting Kremlin's war chest.
Russia is losing about $4 billion a month in energy revenues, per Bloomberg's estimates.
Russian energy revenues may finally be feeling the pinch - the European Union's sweeping sanctions against the country's energy exports are about to kick in on December 5, more than nine months into...
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