It will take the country’s economy until 2024 to adapt to the new conditions, according to the regulator The Russian economy is entering a phase of large-scale restructuring, which will be accompanied by a temporary rise in inflation, the Bank of Russia said in a statement on Friday.

India’s state-run refiner, Hindustan Petroleum Corporation (HPCL), has bought two million barrels of Russian oil for loading in May, as the country’s refiners step up efforts to secure crude from Moscow at a discount, regional media reported on Thursday.

Humanitarian assistance is a better way to curb the refugee crisis, Beijing insists The Chinese Ministry of Foreign Affairs spoke out against US military assistance for Ukraine on Friday, claiming it prevented the restoration of peace and stability in the region. It urged other parties to follow its lead and provide humanitarian aid instead.