China and India funnel $24 Bn to Russia in energy spree

What: Russia has pocketed $24 billion from selling energy to China and India in just three months following its invasion of Ukraine, showing how higher global prices are limiting efforts by the US and Europe to punish the country for war.

Figures: China spent $18.9 billion on Russian oil, gas and coal in the three months to the end of May, almost double the amount a year earlier. India shelled out $5.1 billion, in the same period, more than five times the value of a year ago.

India: The country spent $8.8 billion on petroleum and coal imports from Feb 24 to June 30, more than it doled out for all Russian goods for the entire year in 2021. India also imported three cargoes of Russian liquefied natural gas since the war began, compared to one in the same period last year.