Bloomberg news agency drew attention to the fact that Chinese oil refineries have begun to actively purchase “black gold” from Russia. Thus, Beijing wants to obtain petroleum products at reduced prices, which India did not want to buy amid pressure from the United States.
Points of attention
- Despite escalating tensions over the war in Ukraine, Donald Trump has refrained from imposing tariffs on Chinese goods due to Beijing's increased purchases of Russian oil.
- The shifting dynamics of oil imports among major economies highlight the complex geopolitical landscape and its impact on global oil markets.
China increases imports of Russian oil
What is important to understand is that Beijing most often imports Russian oil from the Russian Far East.
Despite this, during the current month, supplies of Urals oil from the Baltic and Black Seas increased to almost 75 thousand barrels per day — almost twice the average.
Journalists point out that exports to India have dropped to 400,000 barrels per day.
An analyst at Energy Aspects Ltd. commented on this matter.
According to the latter, Chinese refiners are currently in a more advantageous position than Indian ones.
Against this backdrop, the United States increased tariffs on Indian imports to punish India for purchasing Russian oil.
However, Donald Trump has not yet introduced similar measures against China due to the trade truce with Beijing.
Recently, Donald Trump said he would refrain from raising tariffs on Chinese goods due to purchases of Russian oil, noting that he was negotiating with Vladimir Putin to end the war in Ukraine.
More on the topic
- Category
- Economics
- Publication date
- Додати до обраного
