The decline of imports in the first quarter may be due to the care of Chinese state companies about the dangers of penalties.
In January -March 2025, China reduced the volume of Russian oil imports by 14.7% in annual terms -up to 24.315 million tons. The cost of delivery for this period costs $ 13 billion, which is 22% lower than the first quarter of 2024. It was reported by the main PRC customary department.
However, despite the decline in volume, Russia maintains the position of the largest oil supplier in China. Oil accounts for more than 40% of the cost of all imports from the Russian Federation to the PRC.
In March 2025, Russian oil imports in China grew 14% compared to February – up to 8.85 million tons. The cost of delivery for this month costs $ 4.6 billion, which is 9% more than last month.
The lowering of imports in the first quarter may be due to the care of Chinese state companies about penalty risks.
In March, some of them decreased or suspended Russian oil purchases for fear of the second penalty.
Recall that China and India suspended Russian oil trade against the back of new US penalties, which led to a sharp increase of tariffs for transportation of the tank’s cargo.
Investors predict the fall of oil prices up to $ 40
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Source: korrespondent
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