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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Russia sanctions have driven an increase in the share of oil from sanctioned countries in imports to Asia.
- Supplies from Russia, Iran and Venezuela accounted for more than 30% of the share of total imports to China and India in April according Kpler data via Bloomberg. The increase compares to just 12% in February 2022 with flows to China and India from West Africa and the US down more than 35% in that time.
- Almost 90% of Russia’s exports now go to India and China according to The Oxford Institute For Energy Studies.
- The US Treasury has said the price cap policy “has worked to limit Russia’s ability to profit from its war while promoting stability in global energy markets.”
- IEA data shows Russia’s oil exports in March at the highest since Covid but revenue down by nearly half from a year earlier.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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