Chinese refineries have placed new orders for Russian crude that will be shipped from ports that typically supply India, as demand from the South Asian country for Moscow’s crude slips following US President Trump’s tariffs.
At least 15 cargoes of Russian oil have been secured by Chinese refineries for October and November delivery, analysts said.
China and India emerged as the top buyers of Russian oil following Moscow’s 2022 invasion of Ukraine, which prompted Western countries to shun its exports.
Trump in July threatened to impose secondary tariffs on goods from countries importing Russian oil to pressure Moscow to end the war in Ukraine.
Earlier this month, he announced an additional 25% tariff on Indian exports to the US, on top of another 25% levy, for its Russian oil and gas imports. That led to the country sharply cutting down on its purchases.
