As Europe Gets Ready for Embargo, Russia Plans Dramatic Oil Sales to Asia

Has the world shunned Russian oil? Does Moscow find itself isolated and unable to find buyers for its energy exports? Absolutely not. In fact, Russia has been able to compensate for the loss of Western markets, by getting hold of new buyers in Asia and the Middle East. Now, as the date for a European embargo on Russian oil approaches, Moscow is all set to increase sales of its crude in Asia. Already, countries in Asia have been upbeat about the prospect of purchasing Russian oil being offered at considerable discounts. Russia has been trying to ensure that it finds alternative buyers for its crude well before the European embargo kicks in.