MOSCOW, Apr 20 China and India thwarted US and European plans to «strangle» the economy Russia against the backdrop of a special operation in Ukraine, writes Business Insider columnist Ben Wink. As the columnist notes, over the past few weeks, Western countries have tried to use sanctions to damage the energy industry in Moscow, but these measures have not been as effective.
11:50In the worldEurope was warned about the consequences of new sanctions against Russia»The Kremlin did not feel the pressure that Washington was counting on. The blame for this lies partly on India and China,» the author believes.According to him, the two powerful Asian powers after the start of a special operation on Ukraine took a neutral position and did not support restrictions from the United States and the European Union. Beijing and New Delhi not only maintained relations with Moscow, but also continued to trade with it and buy energy, Vink complained. India, in particular, has significantly increased its imports of Russian oil and purchased about 13 million barrels over the past month at an attractive price. China also, as before, remains Russia's largest trading partner, the article says. The journalist recalled that European countries are as dependent on Moscow as Asian countries, which consistently supplies large volumes of energy. For this reason, it is more difficult for the European Union and Great Britain, unlike the United States, to break economic ties with it. Refusal to buy Russian gas would instantly lead to a crisis due to the rise in the cost of industrial products produced in these states, Vink argues. 10:00India resumed deliveries of tea and food to Russia, media write»Of course, the measures of the West are far from perfect. <…> According to experts, Moscow will earn 321 billion dollars from fuel exports in 2022 if the current sales markets are available to it «, he summed up. After the start of a special operation to demilitarize and denazify Ukraine, the West increased sanctions pressure on Russia. Restrictive measures are directed primarily against the banking sector and the supply of high-tech products. In Europe, calls have become louder to reduce dependence on Moscow's energy resources. All this has already turned into economic problems for the US and the European Union, causing an increase in fuel and food prices. The Kremlin called the sanctions an economic war, the likes of which have not yet been, but stressed that they were ready for such a development of events.
