"US Strategic Partner Boosts Kremlin's Wealth to Unprecedented Levels"

1 min read
Source: CNN
"US Strategic Partner Boosts Kremlin's Wealth to Unprecedented Levels"
Photo: CNN
TL;DR Summary

Russia has seen a surge in government revenue, largely due to a record $37 billion in crude oil sales to India, some of which was refined and exported to the United States, bypassing Western sanctions over Russia's invasion of Ukraine. The complex trade involves ship-to-ship transfers and a "shadow fleet" of crude tankers, allowing Russia to maximize profits and evade sanctions. India's increased purchases have weakened the impact of oil sanctions on Russia, providing the Kremlin with significant funds to sustain the war in Ukraine. The US and its allies have imposed sanctions on ships and companies suspected of aiding Russian crude trade, but the shadow fleet continues to grow, enabling Russia to enrich itself through complex refining and export processes.

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