India is being attacked by US President Donald Trump over its energy and defence trade with Russia, alleging it's fuelling Moscow's war with Ukraine. But Trump is hiding more than what he reveals. Many Western nations, including NATO members and the US, continue to trade in Russian energy—directly or indirectly—using exemptions, loopholes and round-tripping. The overview below focuses solely on oil and gas trade, and even that is shocking.<h2>Western nations, including NATO members, continue to import Russian energy</h2>If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas (LNG), purchasing 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas (PNG), while NATO member Turkiye bought 27 per cent. Turkiye is, in fact, the largest buyer of Russian oil products, accounting for 26 per cent of exports.Five top EU importers of Russian fossil fuels paid Russia a total of 1.2 billion euros. Crucially, over 72 per cent of these imports were in natural gas, which the EU has not sanctioned. May be because this gas is essential for heating European homes during cold months.Belgium, host of the EU headquarters, was the second-largest importer in June, spending 300 million euros on LNG alone—a 12 per cent increase from May. France followed, importing 232 million euros worth of Russian LNG.Then, there’s the indirect trade. In June, more than half of Russian seaborne oil exports were transported on G7+ tankers, up from 36 per cent in January to 56 per cent. This shows Western logistical involvement in sustaining Russian exports.&nbsp;<a href="https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed">https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed</a><h2>US still imports enriched uranium from Russia</h2>According to Rosatom Director General Alexey Likhachev, the US continues to import enriched uranium from Russia because it’s economically sensible. In 2023, Russia supplied 27 per cent of enriched uranium used by US nuclear operators—more than any other foreign supplier, he said in May this year.This trade continues despite the US passing the Prohibiting Russian Uranium Imports Act in 2024, banning the imports from 2028 to 2040. Interestingly, waivers to this law till 2028 allow the trade to legally continue. Likhachev even claimed that ongoing discussions with the Trump administration were happening on uranium cooperation.<h2>Shocking details of Russia's energy trade with Western nations in spite of sanctions, Ukraine war</h2>The Centre for Research on Energy and Clean Air (CREA) exposed how energy trade with Russia persists through loopholes, exemptions, and re-routed supply chains. Here is a breakdown:<h3>European Union is still among top buyers</h3>The EU continues to lead in Russian LNG imports (51 per cent) and pipeline gas (37 per cent). Neither is sanctioned, which allows legal trade.Seaborne oil and oil products continue entering Europe, despite formal bans. Crude oil flows to Hungary and Slovakia via the southern Druzhba pipeline under EU exemptions. Refined oil from Slovakia is possibly re-exported to other EU nations.Hungary is the largest fossil fuel importer among EU countries, valued by CREA at 356 million euros in June, including 165 mn in crude oil and €191 mn in pipeline gas. Slovakia imported 178 mn euros in crude oil and has been refining and re-exporting Russian crude to Czechia, till recent restrictions kicked in. Netherlands bought 99 million euros worth of Russian LNG.<h2>Many importers from Russia are NATO members</h2>NATO countries like Belgium, France, Hungary, Slovakia, The Netherlands and Turkiye are among the largest importers of Russian energy.Hungary and Slovakia exploit legal exemptions to refine and re-export Russian crude. G7+ tankers, &nbsp;many from NATO nations, transport Russian seaborne oil, with 41 per cent of crude oil and 80 per cent of oil products moved by Western-owned or insured ships.<h2>Turkiye: The middleman playing both sides amid NATO - Russia tussle</h2>Turkiye was the third-largest importer of Russian fossil fuels in June this year, worth 2.3 billion euros. This included 1 billion in oil products (44 per cent of its total imports), as well as LNG and other fuels. Its Port of Ceyhan saw a 33 per cent increase in refined oil product imports, 88 per cent of which were Russian. Some of this are likely re-exported to the EU.<h2>Greece and Spain facilitate indirect trade</h2>Greek-owned tankers and G7+ maritime fleets play a significant role in shipping Russian oil, which is indirect complicity in the trade. According to CREA, EU waters saw Russian oil worth 218 million per day being moved through ship-to-ship (STS) operations in June, out of which 87 per cent used G7+ vessels.&nbsp;<h2>Shadow fleets and maritime loopholes</h2>A ‘shadow’ fleet of old, poorly insured tankers are still handling some Russian exports. Many transit EU waters under limited enforcement, using so-called "flags of convenience." G7+ vessels are increasingly conducting such STS operations to avoid scrutiny.<h2>So, it's not just India that prioritises economic interests</h2>It’s clear that India is not alone in prioritising energy security over geopolitical rhetoric. Unlike others, India is unapologetic about buying Russian oil. Western and NATO countries continue their robust energy trade with Russia, either through legal exemptions or indirect methods like refining and maritime rerouting, as explained above.Countries such as Hungary, Slovakia, Belgium, and France remain key players in this trade despite their public posturing. G7+ tankers and facilities enable Russian fossil fuel trade, while the US quietly continues its uranium imports.Western nations are doing exactly what they criticise others for—prioritising their own interests. In short, energy security trumps geopolitics. Trump can’t trump that. &nbsp;

If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas, buying up 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas

India is being attacked by US President Donald Trump over its energy and defence trade with Russia, alleging it's fuelling Moscow's war with Ukraine. But Trump is hiding more than what he reveals. Many Western nations, including NATO members and the US, continue to trade in Russian energy—directly or indirectly—using exemptions, loopholes and round-tripping. The overview below focuses solely on oil and gas trade, and even that is shocking. Western nations, including NATO members, continue to import Russian energy If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas (LNG), purchasing 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas (PNG), while NATO member Turkiye bought 27 per cent. Turkiye is, in fact, the largest buyer of Russian oil products, accounting for 26 per cent of exports. Five top EU importers of Russian fossil fuels paid Russia a total of 1.2 billion euros. Crucially, over 72 per cent of these imports were in natural gas, which the EU has not sanctioned. May be because this gas is essential for heating European homes during cold months. Belgium, host of the EU headquarters, was the second-largest importer in June, spending 300 million euros on LNG alone—a 12 per cent increase from May. France followed, importing 232 million euros worth of Russian LNG. Then, there’s the indirect trade. In June, more than half of Russian seaborne oil exports were transported on G7+ tankers, up from 36 per cent in January to 56 per cent. This shows Western logistical involvement in sustaining Russian exports. https://www.wionews.com/videos/trump-vs-india-us-president-s-aide-makes-shocking-claim-india-funding-russia-war-1754293436745/embed US still imports enriched uranium from Russia According to Rosatom Director General Alexey Likhachev, the US continues to import enriched uranium from Russia because it’s economically sensible. In 2023, Russia supplied 27 per cent of enriched uranium used by US nuclear operators—more than any other foreign supplier, he said in May this year. This trade continues despite the US passing the Prohibiting Russian Uranium Imports Act in 2024, banning the imports from 2028 to 2040. Interestingly, waivers to this law till 2028 allow the trade to legally continue. Likhachev even claimed that ongoing discussions with the Trump administration were happening on uranium cooperation. Shocking details of Russia's energy trade with Western nations in spite of sanctions, Ukraine war The Centre for Research on Energy and Clean Air (CREA) exposed how energy trade with Russia persists through loopholes, exemptions, and re-routed supply chains. Here is a breakdown: European Union is still among top buyers The EU continues to lead in Russian LNG imports (51 per cent) and pipeline gas (37 per cent). Neither is sanctioned, which allows legal trade. Seaborne oil and oil products continue entering Europe, despite formal bans. Crude oil flows to Hungary and Slovakia via the southern Druzhba pipeline under EU exemptions. Refined oil from Slovakia is possibly re-exported to other EU nations. Hungary is the largest fossil fuel importer among EU countries, valued by CREA at 356 million euros in June, including 165 mn in crude oil and €191 mn in pipeline gas. Slovakia imported 178 mn euros in crude oil and has been refining and re-exporting Russian crude to Czechia, till recent restrictions kicked in. Netherlands bought 99 million euros worth of Russian LNG. Many importers from Russia are NATO members NATO countries like Belgium, France, Hungary, Slovakia, The Netherlands and Turkiye are among the largest importers of Russian energy. Hungary and Slovakia exploit legal exemptions to refine and re-export Russian crude. G7+ tankers, many from NATO nations, transport Russian seaborne oil, with 41 per cent of crude oil and 80 per cent of oil products moved by Western-owned or insured ships. Turkiye: The middleman playing both sides amid NATO - Russia tussle Turkiye was the third-largest importer of Russian fossil fuels in June this year, worth 2.3 billion euros. This included 1 billion in oil products (44 per cent of its total imports), as well as LNG and other fuels. Its Port of Ceyhan saw a 33 per cent increase in refined oil product imports, 88 per cent of which were Russian. Some of this are likely re-exported to the EU. Greece and Spain facilitate indirect trade Greek-owned tankers and G7+ maritime fleets play a significant role in shipping Russian oil, which is indirect complicity in the trade. According to CREA, EU waters saw Russian oil worth 218 million per day being moved through ship-to-ship (STS) operations in June, out of which 87 per cent used G7+ vessels. Shadow fleets and maritime loopholes A ‘shadow’ fleet of old, poorly insured tankers are still handling some Russian exports. Many transit EU waters under limited enforcement, using so-called "flags of convenience." G7+ vessels are increasingly conducting such STS operations to avoid scrutiny. So, it's not just India that prioritises economic interests It’s clear that India is not alone in prioritising energy security over geopolitical rhetoric. Unlike others, India is unapologetic about buying Russian oil. Western and NATO countries continue their robust energy trade with Russia, either through legal exemptions or indirect methods like refining and maritime rerouting, as explained above. Countries such as Hungary, Slovakia, Belgium, and France remain key players in this trade despite their public posturing. G7+ tankers and facilities enable Russian fossil fuel trade, while the US quietly continues its uranium imports. Western nations are doing exactly what they criticise others for—prioritising their own interests. In short, energy security trumps geopolitics. Trump can’t trump that.

If you're too busy to read the whole thing, here's a snapshot: As recently as June, the European Union was the largest buyer of Russian Liquified Natural Gas, buying up 51 per cent of Russia's LNG exports. The EU also bought 37 per cent of piped natural gas

Bad if we do it, good if you do? US, West's Russia energy trade HYPOCRISY EXPOSED as Trump browbeats India with tariffs, fines

Chinese businesses, struggling with challenges in conducting transactions with Russia amid concerns over US sanctions, are resorting to unconventional methods to facilitate payments. <o:p></o:p>

Heightened scrutiny from major Chinese banks, wary of possible repercussions from Washington, has led to delays and restrictions in settling payments for goods destined for Russia. <o:p></o:p>

As a result, companies are exploring alternative channels, including currency brokers along the China-Russia border and even banned cryptocurrency, to overcome these payment hurdles. <o:p></o:p>

Reuters spoke with multiple sources familiar with the situation, who provided insight into the present Sino-Russian trade relations.<o:p></o:p>

The reluctance of China's major banks to process transactions related to Russia has prompted small Chinese exporters to seek alternative avenues for payments. <o:p></o:p>

Accompanied by fears of being targeted by US sanctions, these banks have tightened scrutiny on Russia-related businesses, complicating trade finance for Chinese exporters. <o:p></o:p>

The delays in payment clearance have prompted concerns among businesses, with some opting to scale back operations in the Russian market or explore unconventional payment methods to mitigate financial risks.<o:p></o:p>

As reported by Reuters, transactions between China and Russia are increasingly being routed through underground channels, including currency brokers and even banned cryptocurrency, as mainstream banking channels face heightened restrictions. <o:p></o:p>

However, these alternative channels also carry inherent risks, raising concerns about the long-term sustainability of such practices. <o:p></o:p>

Chinese banks, particularly rural banks along the China-Russia border, have emerged as alternatives for processing payments to Russia. <o:p></o:p>

However, the influx of businesses seeking to leverage these banks has resulted in bottlenecks, with some businesses reporting lengthy delays in opening accounts. <o:p></o:p>

Despite efforts to explore these alternative options, challenges persist, with some companies encountering obstacles in accessing banking services or receiving payments from Russian clients.<o:p></o:p>

The impact of restricted payments from Russia extends beyond individual businesses, affecting China's financial institutions and trade relations with Russia. <o:p></o:p>

Major Chinese banks have reported declines in Russia-related business activities, reversing previous growth trends. <o:p></o:p>

Notably, China Construction Bank and Agricultural Bank of China have experienced drops in assets attributed to their Russian subsidiaries. <o:p></o:p>

As Chinese companies grapple with payment delays and uncertainty in conducting business with Russia, concerns persist about the sustainability of alternative payment channels and the potential for further disruptions. <o:p></o:p>

Some businesses have already begun reconsidering their presence in the Russian market, citing liquidity management concerns and the unpredictability of future developments. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Chinese businesses, struggling with challenges in conducting transactions with Russia amid concerns over US sanctions, are resorting to unconventional methods to facilitate payments.

Chinese businesses, struggling with challenges in conducting transactions with Russia amid concerns over US sanctions, are resorting to unconventional methods to facilitate payments. Heightened scrutiny from major Chinese banks, wary of possible repercussions from Washington, has led to delays and restrictions in settling payments for goods destined for Russia. As a result, companies are exploring alternative channels, including currency brokers along the China-Russia border and even banned cryptocurrency, to overcome these payment hurdles. Reuters spoke with multiple sources familiar with the situation, who provided insight into the present Sino-Russian trade relations. The reluctance of China's major banks to process transactions related to Russia has prompted small Chinese exporters to seek alternative avenues for payments. Accompanied by fears of being targeted by US sanctions, these banks have tightened scrutiny on Russia-related businesses, complicating trade finance for Chinese exporters. The delays in payment clearance have prompted concerns among businesses, with some opting to scale back operations in the Russian market or explore unconventional payment methods to mitigate financial risks. As reported by Reuters, transactions between China and Russia are increasingly being routed through underground channels, including currency brokers and even banned cryptocurrency, as mainstream banking channels face heightened restrictions. However, these alternative channels also carry inherent risks, raising concerns about the long-term sustainability of such practices. Chinese banks, particularly rural banks along the China-Russia border, have emerged as alternatives for processing payments to Russia. However, the influx of businesses seeking to leverage these banks has resulted in bottlenecks, with some businesses reporting lengthy delays in opening accounts. Despite efforts to explore these alternative options, challenges persist, with some companies encountering obstacles in accessing banking services or receiving payments from Russian clients. The impact of restricted payments from Russia extends beyond individual businesses, affecting China's financial institutions and trade relations with Russia. Major Chinese banks have reported declines in Russia-related business activities, reversing previous growth trends. Notably, China Construction Bank and Agricultural Bank of China have experienced drops in assets attributed to their Russian subsidiaries. As Chinese companies grapple with payment delays and uncertainty in conducting business with Russia, concerns persist about the sustainability of alternative payment channels and the potential for further disruptions. Some businesses have already begun reconsidering their presence in the Russian market, citing liquidity management concerns and the unpredictability of future developments. (With inputs from Reuters)

Chinese firms navigate payment hurdles amid Russia trade troubles

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Bad if we do it, good if you do? US, West's Russia energy trade HYPOCRISY EXPOSED as Trump browbeats India with tariffs, fines

Chinese firms navigate payment hurdles amid Russia trade troubles