Where did much of Russia's oil go after Western sanctions?

To India, China and Turkey, at a discount

Sanctions and markets

Sanctions are penalties one country, or a group, puts on another: trade bans, frozen bank accounts, limits on what can be bought or sold.
After Russia invaded Ukraine in 2022, Western countries froze about US$300 billion of Russia's central bank reserves and cut major Russian banks off the SWIFT payment network.
They also limited Russian oil sales: the EU banned most seaborne imports, and the G7 capped the price at US$60 a barrel (later lowered by some countries).
Sanctioned goods usually find other buyers. Russian oil flowed to India, China and Turkey instead, but often at a discount.
Ripple effects: Russia and Ukraine supplied close to a third of world wheat exports. In March 2022 wheat hit a record price, raising the cost of bread and noodles far away.
Common mistake
Mistake: thinking sanctions far away don't touch you. They travel through fuel, food and fertiliser prices, and through your currency if your country imports a lot.
Key takeaway
Sanctions on a big exporter can push world prices up. Distant countries feel it in fuel and food.

Sanctions are... Penalties placed on a countryThey include trade bans, frozen assets and payment restrictions.
Sanctions on a big oil exporter can make world oil prices... RiseLess supply reaching the market, or fear of it, pushes prices up.
How can distant countries feel sanctions? Through fuel and food pricesCommodities are priced globally, so a shortage anywhere raises prices everywhere.
Where did much of Russia's oil go after Western sanctions? To India, China and Turkey, at a discountSanctioned goods often find new buyers, but more slowly and more cheaply.