China and India will say "no"

The West is seeking to build a global buyer consortium to set the price limit for Russia's crude oil for Russia in overseas markets. But this is a wrong attempt. China and India are mainly imported countries (Russian oil). The West needs support of the two countries to make the plan success, but China and India have not stated so far. When these two large Asian powers weigh (Western) the above proposals, it is very clear that the possibility of this unprecedented clumsy plan is extremely low, and it is likely that it will cause more confusion in the global oil market. If the European Union has felt the disaster consequences, the response of China -India's response to the above -mentioned prices will be loud.

The United States is one of the earliest countries to ban the import of Russian oil. It can also bear the price and even benefit from occupying a larger share in the European market. However, US sanctions and EU resistance have led to tight global supply, pushing crude oil prices to a new high in 14 years. Although global oil prices have recently been concerned about the decline in economic recession, European natural gas and electricity prices are still high. The world is incredible to witness some of the richest countries on the planet almost running almost all the way -rushing towards the worst energy crisis, and even the almost inevitable economic destruction.

Proposal supported by the United States and obtained the (crude oil) upper limit of the (crude oil) of the Seventh Kingdom Group seems to be profitable to the import state. However, the complexity of the international oil market and the plan itself means it is difficult to proceed according to the plan. In May and June of this year, Russian crude oil imported from China and India was almost doubled in February. By providing alternative destinations for Russian oil abandoned in Europe, China and India help prevent global supply from suffering severe tightening and alleviating some price pressure. If Moscow refuses to sell crude oil under the price limit mechanism, it will once again hit the global oil market.

China -India is known for its cautious and balanced attitude between geopolitical emergencies and energy security. As the second largest and third largest oil consumer, the two countries need to maintain this attitude -this is not only due to its own interests, but also to protect the global market balance. (Author Wandana Harry, translated by Ding Yan)

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