Part 4/9:
Chinese and Indian refiners are currently searching for alternative oil supplies as new U.S. sanctions against Russian oil producers come into effect. China's energy landscape is facing a dilemma, weighing the benefits of cheaper but potentially illegal oil shipments against the risks of operating under renewed sanctions. Interestingly, this dynamic hints at the fragility of China's partnership with Russia, as trade between the two nations begins to stagnate following initial upticks post-invasion of Ukraine.