According to Bloomberg, countries, especially in South Asia (India, Pakistan, Bangladesh, Sri Lanka), have begun to actively buy coal, gas and fuel oil in Russia to maintain their power grids and ensure the operation of air conditioners.
"The Russian energy sector, which the West avoids, looks increasingly attractive," the agency emphasizes.
According to the estimates of the analytical company Kpler, coal exports from Russia to Asia have increased to 7.46 million tons since the beginning of the year - this is a third more than a year ago. Purchases of Russian liquefied natural gas increased by 0.1 million tons to 0.4 million, and deliveries of Russian fuel oil to Asia in March and April were the highest ever.
China and India remain the most active buyers of Russian oil, coal and fuel oil. These two countries accounted for more than two-thirds of Russian coal exports to Asia in April. South Korea accounted for 15 percent of shipments, and exports to Vietnam, Malaysia and Sri Lanka also increased.
Bloomberg emphasizes that Asian countries are increasingly dependent on the supply of Russian resources.
In December 2022, the European embargo on Russian oil began to take effect. On February 5, the EU ban on the import of diesel and other products made from crude oil into the Russian Federation came into force. Against this background, India has become the largest buyer of Russian oil. Access to cheap Russian fuel helped boost production and increase profits of Indian refineries, which allowed them to export petroleum products to Europe.