US sanctions have “cut off” Russian oil supplies to Asia
13.01.2025 - 09:29
New sanctions against Russian oil companies and ships are forcing Moscow’s key customers to look to the Middle East, Africa and America.
Chinese and Indian oil refiners have been forced to look for new suppliers due to US sanctions against Russia. This is reported by Reuters.
Earlier, the US Treasury Department imposed sanctions on Russian oil companies Gazprom Neft and Surgutneftegaz, as well as 183 ships that delivered Russian oil abroad.
These tankers usually supplied oil to India and China, which became Russia’s main customers after the introduction of export restrictions to Europe in 2022. A significant part of these ships were also used to transport Iranian oil, which is also under sanctions.
According to traders, the new US restrictions will seriously affect Russian oil exports, which may force Chinese independent refineries to reduce production.
For example, 143 of the sanctioned vessels are oil tankers, which last year transported more than 530 million barrels of crude oil from Russia. This is about 42% of the country’s total seaborne exports. Of these volumes, about 300 million barrels were delivered to China, and the bulk of the rest to India.
In 2023, Russian oil imports to India increased by 4.5%, reaching 1.764 million barrels per day, which was 36% of the country’s total imports. In China, the same figure increased by 2%, amounting to 2.159 million barrels per day, or 20% of total imports.
Recently, USM wrote that the US announced large-scale sanctions against the Russian tanker fleet.
