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Chinese refiners sweep up Russian oil after Indian demand falls
Khaleej Times
|August 20, 2025
Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow’s exports falls away, two analysts and one trader said on Tuesday.
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India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount since some Western nations shunned purchases and imposed restrictions on Russian exports over Moscow’s 2022 invasion of Ukraine.
Indian state refiners paused Russian oil purchases last month, however, as those discounts narrowed. And US President Donald Trump is also threatening to punish countries for buying Russian crude.
China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects.
Each Urals cargo ranges in size from 700,000 to 1 million barrels.
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