Asia first overtook Europe on purchase of Russian oil

Oil supplies from Russia to India and China reached record values, and Asia for the first time became the largest buyer of Russian raw materials, said Jane Xsey, Senior Oil Analyst KPLI, Senior Oil Analyst KPSI.

After the start of the “special operation” in Ukraine and discussions of the embargo of the West, the transit of Russian oil by the sea only grew. The supply of Russian oil to the two largest importers of Asia – India and China – in April reached record values. At the same time, India was the main buyer of Russian raw materials last month, the expert said.

According to KPLER, in April, Asia first overtook Europe, becoming the largest importer of oil from Russia, and the gap continues to increase in May. At the same time, the transit of Russian raw materials for the sea is growing: last week there were from 74 million to 79 million barrels of oil, which is almost three times more than the volume of naval transit before the start of the war in Ukraine and discussions of the Western oil embargo against Russia (27 million barrels (27 million barrels ).

India and China, in turn, purchase millions of barrels of Russian oil, using large discounts that the country provides, notes the publication. “Some of the interested buyers in Asia are guided rather by economic considerations than a political position,” Jane Xi told the agency.