Major oil refineries in China have decided to halt some of Russia's oil imports. This was reported by the international economic agency Bloomberg.
According to the source, not only state-owned but also private companies are temporarily refusing to cooperate with Rosneft and Lukoil. The main reason for this is the risk of secondary sanctions that may be imposed by the US and Western countries.
It is reported that the refusal mainly affects the import of Siberian oil of the ESPO brand. According to the consulting company Rystad Energy AS, as a result of the restrictions, the volume of exports from Russia to China decreased by about 400 thousand barrels per day, that is, by almost 45% of total deliveries.
It was previously reported that major Chinese state-owned companies stopped purchasing Russian oil by sea after Rosneft and Lukoil were added to the US sanctions list.
According to economists, this decision is related to China's cautious policy aimed at maintaining its position in the international market and avoiding the threat of sanctions. At the same time, the country is working to expand energy cooperation not only with Russia, but also with the countries of the Middle East and Africa.
Experts emphasize that this situation could also affect the price of Russian oil, as China is currently one of the largest export markets for Moscow.
Read “Zamin” on Telegram!
