📈 Russia's Crude Oil Exports Shift from Europe to Asia Post-Ukraine War

Following the Ukraine invasion, China and especially India replaced the European Union as the primary buyers of Russian crude oil. Between 2021 and 2024, Russia’s exports to the EU plunged by 89%, from 2.30 to 0.26 million barrels per day (Mb/d). In contrast, exports to India surged by 2,340% (from 0.07 to 1.79 Mb/d), while shipments to China rose by 36%, from 1.60 to 2.17 Mb/d.