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In reply to the discussion: Russia will soon exhaust its combat capabilities, Western assessments predict [View all]BumRushDaShow
(165,364 posts)They have pretty much cut out Russian oil. And remember other than us and Russia, the OTHER big producer out there is still Saudi.
The "problem" is that China is Russia's biggest buyer and continues to do so unabated. From my handy dandy chart (and note that the European countries on there have pretty much ceased importing it) -

(although what LNG they were getting through the Nord 1 Pipeline was recently being significantly cut off by Russia, which might be the bigger problem)
So note that even as of 2020, China had almost 3x the amount of oil imports from Russia compared to the highest-importing European country. And that is with China still primarily using coal.
But now India has jumped in and has suddenly switched their oil buying from multiple sources, to having a large percentage coming from Russia due to Russia's heavily discounted price/bbl (I think the last I saw was that they were selling it at around the equivalent of $49/bbl).
This is what India used to do -

and then they switched -

So it's not Europe keeping Russia afloat, it's China and India as the biggest buyers, along with a few Russian-aligned countries chiming in.