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China steps up Russian oil imports as U.S. tariffs hit Indian demand

global.espreso.tv
Thu, 21 Aug 2025 11:49:00 +0300
China steps up Russian oil imports as U.S. tariffs hit Indian demand
CNN reported the information.According to analysts, Chinese refineries have secured at least 15 shipments of Russian crude oil for delivery in October and November. China and India became the main buyers of Russian oil after Russia’s invasion of Ukraine in 2022, prompting Western countries to halt its exports.In July, Trump 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 U.S., on top of another 25% levy on Russian oil and gas imports. This led to a sharp decline in India’s purchases.As of last week, China’s state-owned and major private refineries had bought around 13 shipments of Western Russian crude oil for October delivery and at least two shipments for November, according to Muyu Xu, senior crude oil analyst at Kpler, which tracks commodity and shipping data.The 15 oil shipments, each usually ranging from 700,000 to 1 million barrels, will be loaded from Russian Arctic and Black Sea ports, shipments that typically go to India rather than China, given the distance, Xu said.Reuters reported earlier this week that China secured 15 Russian shipments for the same period, citing analysts.Xu said the purchase reflects an “opportunistic” move, as Russian oil remains at least $3 per barrel cheaper than Middle Eastern alternatives.“As for whether China will continue buying, I personally believe that right now is still a very good opportunity, because over in India, Trump is still pressing hard on them,” she said.On Friday, after meeting with Russian leader Vladimir Putin, Trump told Fox News that he is not considering retaliatory tariffs on China over its Russian oil purchases but suggested he might do so “in two or three weeks.”“Taking advantage of this opportunity while prices are low, I think more refineries will probably consider buying more, within a week or two,” Xu said.She added that China is unlikely to make up for India’s shortfall in Russian oil purchases, as India buys about 1.7 million barrels per day from Russia, while China purchases only around 1.2 million barrels of Russian oil transported by sea per day.“If India keeps holding off on buying, that’s going to be a real problem for Russia – China just can’t take on all of India’s volume by itself,” she concluded.White House trade and manufacturing advisor Peter Navarro emphasized that if India wants to be treated as a strategic partner of the U.S., it should stop buying Russian oil.
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