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Russia Crude: After America imposed sanctions on two big oil companies of Russia, the purchase of crude has reduced. Russian crude oil coming to India is now going towards China. Five tankers loaded with Russian oil are parked off the east coast of China.
New Delhi. If we look at the world at this time, four countries are being discussed everywhere and on every platform. First America which is once again struggling to establish its dominance. On the other hand, China, India and Russia are together trying to respond to America’s policies. Now there is news that Russian crude oil coming to India is accumulating in large quantities on the coast of China. These tankers carrying millions of barrels of oil have attracted worldwide attention and have also raised many questions in the minds of businessmen.
According to Kpler, an energy procurement monitoring agency, tankers loaded with Urals grade crude oil originating from the western coast of Russia are heading towards the eastern coast of China. Kepler has said that till Wednesday, 5 ships loaded with about 34 lakh barrels of crude were standing in the Yellow Sea, their number has doubled since last week. Not only this, the accumulation of oil tankers in this area has been the highest in the last 5 years.
Why are Russian oil tankers piling up?
After the US and other western countries imposed sanctions on Russia’s two largest oil companies, India has reduced the purchase of Russian Eurol crude. India has been the largest country to buy this grade of crude from Russia. Now after reducing its purchases, tankers loaded with Russian oil are moving towards China. This is the reason why 5 ships loaded with about 34 barrels of oil are standing in the Yellow Sea on the east coast of China. This area belongs to China’s Shandong province, which is considered the center of independent oil refineries.
China does not buy such crude
Although crude oil coming to China is not a new thing, but accumulation of Urals oil on its coast is a unique situation. The reason is that China does not buy this grade of oil from Russia. Chinese refineries generally do not buy this grade of oil coming from western ports, rather they prefer to buy Russian crude from eastern terminals. The quantity of diesel in it is also high and it also falls near China.
Russia looking for new buyer
Due to American sanctions, the pace of buying Indian crude has slowed down. Therefore, now Russia is also looking for a new buyer for the sellers of Eurol grade oil. Especially in East Asia, Russia has intensified its search for new buyers. It is believed that the accumulation of Eurol oil tankers on the coast of China is part of this strategy. It is not yet clear whether China has bought this oil coming from Russia or the search for a buyer is still going on, but it is certain that these tankers coming to India have now reached the border of China in search of a new buyer.
