China and India have stopped buying oil at the Russian Federation – Media

China and India have stopped trade in Russia’s oil against the rear of new US penalties, which integrates with a sharp increase of tariffs for the transportation of the tank’s cargo. Reuters reported this on Tuesday, January 28th.

According to entrepreneurs and shipping companies, the Russian oil trade, which March loaded, stopped Asia because in China there is a huge space between customers and sellers. This happened after the cost of the shipment of tanks, which did not affect the US penalties, increased dramatically.

As you know, on January 10, the United States imposed a huge -scale penalty against the Russian oil supply chain. This led to a sharp increase of freight rates in the tanks, while consumers and ports in China and India avoid penalties.

Supplements for the Russian Oil of the Espo Blend Brand exported from Kozmino Pacific Port, grew up to 3-5 US dollars per barrel to the Ice Brent brand price based on shipping from the vessel (Des) then Of the more frequent rates for the Aframax tanker on this route on this route we jumped a few million dollars, the three merchants said.

At the time of introduction of penalties, sustainable winter demand and strengthening prices of competing oil types from Iran led to the fact that the bonuses of exploration for oil types blend the mixture in China has grown to about $ 2 per barrel, which is the highest indicator from the beginning of the full -scale war of the Russian Federation against Ukraine, urging a discount of up to $ 6.

The financial director of the Indian company Bharat Petroleum Corp LTD last week informed the agency that the company had not received a new offer for March supplies, as is standard. The company hopes that the number of goods proposed in March will decrease compared to January and December.

Last year, the import of Russian raw oil in India was 36%, while almost a fifth of the volume of imports accounted for China.

According to the Kpler Analytical Company, the latest penalties are aimed at tanks, which bring about 42% of Russian oil exports, especially China, though penalties.

The United States in India explained that Russian oil -filled tanks should be loaded until February 27 according to the penalties, Indian oil minister Pankaj Jain told reporters on Friday. Payments for oil riding on vessels falling under penalties should be made until March 12, he added.

Keep in mind that Russia has reduced oil export to a 16 -month minimum -volumes are reduced by 540 thousand barrels per day compared to peak indicators in October.