Refineries in China have increased their purchases of flagship Russian crude, taking advantage of the opportunity to buy cargoes at a discount. India had previously refused to take these supplies after the United States imposed 25 percent tariffs on the country for buying Russian oil.
Bloomberg writes about this.
China is the largest buyer of Russian oil, but it usually gets it from Russia’s Far East. But in August, deliveries of Urals crude, which is shipped from ports on the Baltic and Black Seas, reached almost 75 000 barrels per day — almost double the average since the beginning of the year of about 40 000 barrels, according to Kpler.
Meanwhile, exports to India this month fell to a high of 400 000 barrels per day, compared with an average of 1.18 million.
Chinese refiners operating in Asiaʼs largest economy have likely bought 10 to 15 batches of Urals crude for delivery in October and November, more than they normally consume, according to estimates from Kpler and Energy Aspects.
According to traders who agreed to comment only anonymously, this oil grade was recently offered at a premium of $1 per barrel to Dated Brent. There were no further discounts due to high interest from Chinese refiners.
At least two tankers carrying Urals oil, each with a capacity of 1 million barrels, are currently anchored off China’s coast, with several more expected to arrive in the coming weeks, according to Bloomberg.
Two of the tankers — the “Georgy Maslov” and the “Zenith” — are in the Zhoushan area, home to Zhejiang Petroleum & Chemical Co. and strategic storage tanks.
At the same time, Indian refiners are not showing any activity, although they are receiving and considering offers for Urals oil, traders reported.
What preceded
After Russia’s full-scale invasion of Ukraine in 2022, India became the top buyer of Russian oil shipped by sea. This happened because Western countries refused to import it.
In May, New Delhi was expected to import more than 2.1 million barrels per day. This was made possible by the involvement of new tankers in the transport of oil after US sanctions in January.
In May 2025, Bloomberg reported that tankers under US sanctions were among the ships delivering Russian oil to India. At that time, about a million barrels of Russian “Sokol” oil were delivered to the countryʼs refinery.
In August, Donald Trump imposed additional tariffs of 25% on imports from India for buying oil from Russia. Thus, state-owned companies have suspended purchases of Russian oil, while private companies continue to import it.
- The US President said on August 15 that due to progress with Putin in negotiations, he would not raise tariffs on Chinese goods due to purchases of Russian oil.
For more news and in-depth stories from Ukraine, please follow us on X.