On the 4th, an oil tanker berthed at Wai Diao Island in Zhoushan, China.

(Reuters file photo)

[Compiler Guan Shuping/Comprehensive Report] Russia was severely sanctioned by the West for its aggression against Ukraine, which affected Russian crude oil exports.

At least four Chinese very large crude carriers (VLCCs) are assisting Russia in transporting Urals crude to China, while another transports Russian oil to India, according to trade sources and ship-tracking data.

"Reuters" disclosed on the 13th that Western sanctions on Russia and the Group of Seven (G7) imposed a US$60 ceiling on the price of imported Russian crude oil, limiting Russia's ability to finance wars with energy revenues, and also making it difficult for Russia to use Western transportation services and Insurance.

Please read on...

For this reason, Moscow quickly shifted its crude oil exports from Europe to Asia, and at the same time looked for ships that could assist in the export of crude oil. At this moment, both China and India took advantage of the opportunity to continue buying crude oil from Russia.

The five VLCCs were scheduled between Dec. 22 last year and Jan. 23 this year, trade sources and ship-tracking platform Eikon said.

A senior executive of a Chinese company involved in the shipment of crude oil said, "The price of Urals (crude oil) is far below the (G7) price ceiling, and the purchase and trading of Urals crude oil is basically legal."

The executive estimated that a total of 18 Chinese VLCCs and another 16 Aframax tankers will be used to transport Russian crude oil this year, enough to transport 15 million tons a year, about half of Urals crude oil exports. 10%.

VLCC-class tankers can carry up to 2 million barrels of crude oil, and Aframax can carry 600,000 barrels of crude oil.

Russia's energy and transport ministries declined to comment, and China's foreign ministry did not respond to requests for comment.

Indian Petroleum Minister Pu Li (Hardeep Singh Puri) said on the 12th that India will buy the cheapest crude oil it can buy.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news