The Russian
invasion of Ukraine has triggered forces that have cut Moscow’s ties to the
world. Europe, dependent on Russian energy for decades, has cut ties political
ties with Moscow and is trying hard to end its energy dependence as well.
Sanction-torn, Putin’s Russia is now trying to wean itself of the European
market and is moving massive ships of oil to Asia.

Russian oil flow
into Asia has increased by nearly 50% since the beginning of 2022, according to
Petro Logistics, a tanker-tracker. While this forms only a marginal amount of
sea trade, Russian oil flow into Asia signals the biggest rerouting of oil
markets since the United States shale revolution altered the way the market
moved.

Also Read | Russian oil embargo hangs heavy as European Union leaders gather

The
reconfiguration of markets also proves that Russia will be able to navigate the
curbs imposed by European Union and the United States. Experts who spoke to
Reuters said even if the EU agrees to an oil ban on Russia in its next round of
sanctions, its impact could be tempered by demand from Asia.

Nearly 400,000
barrels per day (bpd) of oil per day moves from Russia towards Asia through
ship-to-ship transfers through the Mediterranean Sea. This is in addition to
the 2.3 million bpd going directly.

Sea borne volumes
are only a fraction of the total oil export from Russia. A significant amount
of oil is also transferred through pipeline supplies.

Also Read | Why Serbia can’t turn down Russian oil

Amid Russia
finding success in selling oil outside Europe, Serbia, a landlocked nation in
Southeast Europe has secured a solid gas deal with Russia. Serbian President
Aleksander Vucic said recently that he has secured an “extremely favourable” gas
deal with Russia. “What I can tell you is that we have agreed on the main
elements that are very favourable for Serbia,” he said.

Serbia has long
sought to join the European Union. However, if the gas deal goes through, which
is expected to be signed in June, the nation’s EU hopes may be dashed. That,
however, might not prevent Serbia from signing the deal. Polls, reported by Al
Jazeera, show most Serbians would rather sign with Moscow in order to remain
independent of Western interference than join the EU.