China refused to supply American oil from deposits in Alaska in favor of Russian supplies – Russia’s readiness to supply raw materials with a significant discount, writes Bloomberg, citing Vortexa data.
Before the war, oil supplies from the northern state were at the maximum for two decades, but already in August 2022 they came to naught and were replaced by oil from Russia.
“American oil simply ended with buyers. Those buyers who previously took oil from ANS switched to cheaper supplies from Eastern Siberia,” the agency quoted the analyst Vortexa Rochita Rotkhod.
Moreover, American oil from Alaska has been traded from the record from 2014 a prize to American reference oil varieties, which makes the supply of this raw materials additional unprofitable for China.
The publication notes that a similar situation arose in India, which abandoned Canadian supplies in favor of Russian. Moscow has increased deliveries to China, India and Turkey amid the imposition of sanctions against Russian oil. However, Moscow fails to fully replace them to Western markets – neither in terms of export or income.