Russia is sending more oil to Asia as China and India continue to snap up cheap barrels, bolstering Moscow's revenues despite EU sanctions
is robust, as Russia discounts its oil prices amid sweeping sanctions over the war in Ukraine.
To meet Asian demand, Russia has increased shipments by about 20% out of the major port of Kozmino in the east of the country,The exports from the port are pumped via the East Siberia Pacific Ocean pipeline operated by Transneft. The Russian pipeline company has increased the amount of crude oil pumped to Kozmino by 70,000 barrels a day, Reuters reported. On top of the piped oil, Russia also plans to send an additional 80,000 barrels of crude oil a day via rail to Kozmino from Siberia.
Transneft did not respond immediately to Insider's request for comment sent outside regular business hours. Much of the oil is headed to China and India, neither of which has condemned Russia's actions in Ukraine.
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