Categories: Business

EU sanctions on Russia ‘could reduce KSA oil exports to Asia’


Sat, 2022-10-15 23:36

RIYADH: Successive sanctions by the US and EU-led Western allies on Russia could slightly reduce Saudi Arabia’s oil exports to India and China, as the Asian giants will buy more Russian oil at a lower price, a report has suggested.

The analysis released by the King Abdullah Petroleum Studies and Research Center noted that the gross domestic product of India and China would benefit due to discounted oil imports.

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