Russian Oil Is Too Cheap To Resist For China And India

Since Russia invaded Ukraine in late February, several countries have introduced sanctions on the country, restricting trade and stopping Russian energy imports. This has led to severe oil and gas shortages worldwide. But some governments are using this situation as an opportunity to establish a closer relationship with Russia while demand for its huge oil and gas supplies is low, providing countries with low-cost energy imports.  While Australia, Canada, the U.K., and the U.S. have introduced total bans on Russian oil purchases, the EU and…