June 02, 2022
Before Vladimir Putin decided to invade Ukraine, Russia was supplying more than 10% of global crude oil supplies. That share has dwindled in recent months as many countries have (slowly) piled onto a boycott of Russian energy to punish the Kremlin for the ongoing onslaught. To make up the shortfall, the US has been pressuring other oil-producing behemoths – like the Saudis – to up oil production. There are even reports that Washington is contemplating the loosening of sanctions on pariah-state Venezuela to tap into that country’s vast crude oil reserves. We take a look at which countries imported the most crude oil from Russia up until recent embargoes were introduced, as well as which states have the largest proven oil reserves in the world.
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