Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
The chief executive of Shell has said no one will be fired for a controversial purchase of Russian crude oil last week and that he would take personal responsibility for it, according to people with direct knowledge of the matter.
