Mon. Dec 23rd, 2024

China is set to import a record amount of Russian oil this month, with about 1.7 million barrels per day of Russian oil.

China’s imports are the result of huge quantities of Russian Sokol crude, which India has stopped buying for fear of U.S. sanctions.

Sokol crude volumes are expected to rise 3 times their volume compared to last month, reaching an all-time high of 379,000 barrels per day.

China has been buying Russian oil continuously since the Ukraine war and has recently benefited from low-cost Sokol crude after its inflows to India fell.

Imports of Russian Espoo crude are expected to reach 882,000 barrels per day this month, recording their highest levels since January 2023.

 

The Heads of state congratulate President Putin on his inauguration as President of the Russian Federation

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