After the penalties, the export of Russian oil to China and India was reduced, and Chinese Sinopec and Zhenhua oil companies have temporarily suspended purchases.
The Chinese state refinement company Sinopec continued to buy Russian oil purchases after a short break related to risk assessment due to US penalties. This was reported by Reuters’ resources on Wednesday, April 23.
According to interlocutors, the Sinopec Trade Unit – Unipec – The ESP oil and shipment party in May in the far east of Russia was obtained.
The factors for continuing the acquisition are still unknown. Sinopec did not give comments at the agency’s request.
Resources have made it clear that the number of purchased parties is lower than before the January Pinocical Package.
Joe Biden’s administration on January 10 introduced poor restrictions against Russian oil companies, as well as against insurance companies and more than 100 vessels to reduce Moscow exports from energy exports.
As the Reuters reported, after the imposition of penalties, Russian oil exporting to China and India was reduced, and Chinese Sinopec and Zhenhua companies have suspended purchases.
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.
Generally, China reduced Russian oil purchases by 15%.
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Source: korrespondent
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