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China Snaps Up Distressed Russian Oil Cargoes Shunned by India

Julian Lee, Rong Wei Neo
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⚡ Quantum Brief
Chinese refiners are aggressively purchasing discounted Russian oil cargoes after India reduced its imports, helping Moscow sustain exports amid sanctions. The shift marks a strategic pivot in global oil trade flows. Russia’s seaborne crude shipments to China surged to 2.09 million barrels per day in early February, up from 1.72 million in January and 1.39 million in December, per vessel-tracking data. The increase fully compensates for India’s declining purchases, previously Russia’s largest buyer, as New Delhi seeks alternative suppliers or pressures Moscow on pricing. China’s move underscores its role as a critical lifeline for Russian energy exports, exploiting price discounts while avoiding direct violations of Western sanctions. The trend highlights evolving energy alliances, with China leveraging geopolitical gaps to secure cheaper crude amid volatile global markets.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Chinese refiners are snapping up Russian oil that India is shunning, helping Moscow to overcome a dip in purchases by the country that’s normally its biggest buyer of seaborne barrels.Deliveries of Russian crude to Chinese ports rose to 2.09 million barrels a day in the first 18 days of February, vessel-tracking data compiled by Bloomberg show. The increase — from 1.72 million barrels a day in the whole of January and 1.39 million in December — has more than offset a drop from India.

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