India's First International News Journal

23.1 C
Thursday, June 1, 2023
WorldAsiaChina buys Russian oil more than anyone

China buys Russian oil more than anyone


Beijing pays the most for Russian oil. Oil market analysts have come to this conclusion. According to them, in the first quarter of this year, the Celestial Empire bought an average of 1.68 million barrels of Russian oil per day.

Slightly fewer Russian raw materials were purchased by India. It represented 1.41 million barrels per day. But European countries only bought 0.81 million barrels of Russian oil a day.

Analysts have drawn attention to an important point. In almost all regions where Russian oil was supplied, its price was below the ceiling set by Western countries.

For example, in the European Union it was only $50.05 per barrel, in India – $48.03, and Turkey paid $56.14 per barrel. But China, where the lion’s share of Russian raw materials was supplied, paid an average of $71.76 a barrel for it.

The analysts’ emphasis is on another important nuance. Even in the European Union, which is one of the initiators of the introduction of a price cap for Russian oil, it is not observed everywhere.

For example, fuel entering Europe from Russian Arctic ports is sold in the region at an average price of $74.77 per barrel.

In a nutshell, even the European Union itself does not want to comply with the anti-Russian restrictions. In this regard, statements that in the new sanctions package the EU plans to completely ban the entry into its ports of ships that violate the restrictions, seem strange to say the least.

Photos used: US Navy

Read the Latest Government Politics News on The Eastern Herald.

Copyright © 2023 The Eastern Herald.

News Room
News Room
The Eastern Herald’s Editorial Board validates, writes, and publishes the stories under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on


Please enter your comment!
Please enter your name here


Millionaire Aisle Raffle Draw


Latest News