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Home Politics

Russia Allows Chinese Banks To Buy Oil Without Letters Of Credit To Bypass Western Sanctions

by Zero Hedge
March 11, 2022
in Politics
Russia Allows Chinese Banks To Buy Oil Without Letters Of Credit To Bypass Western Sanctions

One week ago, Shell quietly purchased Russian seaborne crude (at a record discount of $28.50) amid a self-imposed boycott by most other Western purchasers of Russian energy products, only to spark widespread populist outrage over its indirect funding of the Putin regime and prompting a vow from the largest European energy company to not purchase Russian crude any more. As a result, Moscow has found itself in the crippling position where despite carve outs for its oil exports (Europe has vocally refused to join the US ban of Russian energy exports), not a single western major is willing to […]

Read the rest of this story here: www.zerohedge.com

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