India says ‘no’ to Russian oil, Xi takes over, Putin scores big

New Delhi: Over the past few months, Russia offered steep discounts on oil after India reduced its purchases because of Western sanctions over the Ukraine war and pressures from a trade deal with the United States. China recognised the opportunity and acted swiftly. Known as Teapots, Chinese refiners placed large orders to secure discounted crude. It resulted in a surge in imports that analysts predict could double in the coming months. Data from Vortexa Analytics indicates that Russian crude deliveries to China could reach 2.07 million barrels per day (bpd) in February, up from 1.7 million bpd in January, while…