Russia Now Sells Oil to Myanmar

Russia Now Sells Oil to Myanmar

Russia has found a new buyer for its oil in Myanmar. The Asian country, led by a military junta, has reached an agreement on the purchase of oil, according to the Russian state news agency RIA. Myanmar pays for this in rubles.

Russia is increasingly turning to Asian customers to sell off its fossil fuels. As part of the sanctions with which the European Union wants to punish the country for invading Ukraine, member states will stop importing the lion’s share of Russian oil. The United States and the United Kingdom also announced boycotts of Russian oil.

The big question is how the relationship between China and Russia will develop as the war in Ukraine continues. Beijing has never formally condemned the invasion of the Eastern European country. However, earlier this week, it was announced that the Russian state gas company Gazprom will now receive rubles and yuan for gas it exports to China. Previously, contracts were drawn up in euros, but that currency belongs to countries that the Kremlin sees as “unfriendly”.

Russia is currently hosting an economic forum in the eastern city of Vladivostok. The top Chinese politician Li Zhanshu also participates in that summit. He is the third most powerful man in the Communist Party and thus the highest-ranking Chinese politician to visit Russia since the war in Ukraine began.

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