One workaround being used to mask the origin of Russian oil is paying in China's yuan rather than the US dollar, the standard currency for trade, sources told the newspaper. Alternatively, sellers will exchange Russian oil for goods like gold, food or weapons instead of a currency.
volumes have soared 1,067% since Russia began its war with Ukraine, though this is broadly seen as a sign of the allies strengthening ties to help weaken the influence of the US.
In June,
India has bought 1 million barrels of Russian oil a day on average, compared with 30,000 in February, the WSJ noted, citing Kpler data. Those supplies are likely to be refined there, then sent as petrol and diesel elsewhere, to ultimately
end up in Europe's gas stations, some analysts say.