AsianFin -- Chinese refineries have placed new orders for Russian crude, targeting shipments from ports that typically supply India, as demand from the South Asian nation falls following U.S. President Donald Trump’s tariffs.
Analysts said at least 15 cargoes of Russian oil have been secured by Chinese buyers for delivery in October and November.
China and India became the leading importers of Russian oil after Moscow’s 2022 invasion of Ukraine, which led Western nations to avoid Russian crude.
In July, Trump warned of secondary tariffs on countries importing Russian oil to pressure Moscow to end the war in Ukraine.
Earlier this month, he imposed an additional 25% tariff on Indian exports to the U.S., on top of a prior 25% levy for imports linked to Russian oil and gas. The move prompted India to sharply scale back its purchases.
Russia now accounts for about 13.5% of China’s crude imports, according to energy analytics firm Vortexa. UN data shows that China imported $62.6 billion worth of Russian petroleum and crude last year.
India imported $53 billion worth of petroleum and crude oil from Russia last year, United Nations data shows. Before the recent supply cuts, Russia provided about 36% of India’s crude imports, making it the country’s largest source of oil, according to energy analytics firm Vortexa.
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