Russia Becomes China’s Top Crude Supplier
In response to Western sanctions, Moscow has redirected much of its energy exports toward Asia, focusing on China and India. Analysts expect shipments to China to continue rising due to strong demand. Aleksandr Daniltsev, Director of the Trade Policy Institute at the National Research University Higher School of Economics (HSE), told reporters, “Physical volumes are increasing steadily,” noting that price fluctuations will affect import values.
Daniltsev added that China’s diversification of energy sources and its development of low-carbon technologies could limit future Russian growth, but “the overall trend will remain upward.”
The surge in Russian shipments allowed Moscow to surpass Saudi Arabia as China’s top crude supplier for the month. Russian deliveries were 46% higher than Saudi Arabia’s roughly 1.2 million bpd in January, despite Riyadh’s long-standing position as China’s leading seaborne supplier, according to energy analytics data.
Over the last decade, China’s total energy imports have more than doubled, with Russian imports increasing more than fourfold. Daniltsev also noted that potential instability in the Middle East, such as tensions involving Iran, could further boost Russia’s importance as a supplier.
The growth in Russian exports coincides with lower demand from India and Turkey due to sanctions and trade pressures. Reports indicate that China is also increasing imports of Urals crude, a major Russian oil grade, to levels not seen since mid-2023.
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