Who's propping up Russian oil?

This episode of The Indicator from Planet Money discusses the impact and complexities of sanctions imposed on Russia since its invasion of Ukraine. While over 5,000 sanctions have been implemented by the U.S. and its allies, causing some economic strain on Russia, they have not halted the war. The hosts, Darian Woods and Jackie Northam, highlight the "hypocrisy" of some countries, including U.S. allies, that publicly support Ukraine but continue to purchase Russian oil and gas, often at discounted prices. The discussion specifically focuses on Taiwan, which has become the largest importer of Russian naphtha—a key component for semiconductors—despite its own geopolitical vulnerabilities with China. The episode also touches on other countries like Hungary, Slovakia, Turkey, and India, which continue to buy Russian energy, and notes that the U.S. itself imports refined oil products made from Russian crude. The hosts conclude by mentioning recent developments, such as Taiwan's Formosa Petrochemical Corporation's decision to stop buying Russian naphtha, and Europe's goal to end Russian imports by 2027, while the U.S. has no stated plans to limit its own indirect Russian energy imports.