Russia is facing a cliff thats almost impossible to surmount in terms of oil. Most of the oil that goes to Europe today cannot easily be brought to India or China even if steep discounts are applied. Having agreements with those two buyers won’t take the pressure off the supply line. But when the oil is not taken by buyers, Russia will have to shut in wells and this often means that those wells won’t be able to come back at some point in the future. At least not without some extra expertise plus a big stack of money.
President Vladimir Putin demanded last week that payments for natural gas from 'unfriendly' countries be paid in Roubles.