Trump’s tariffs may complicate sale of Russian oil to China, India, and Türkiye - Reuters
Illustrative photo: US secondary tariffs may complicate the export of Russian oil (Getty Images)
Secondary tariffs imposed by the US on Russia may affect the export of Russian oil to China, India, and Türkiye. These three countries are its largest buyers, Reuters reports.
Exports to China
As Reuters reports, China continues to be the largest importer of Russian oil, primarily supported by pipeline deliveries directly from Russian fields.
The main routes are the Skovorodino-Mohe and Atasu-Alashankou pipelines, the latter passing through Kazakhstan’s territory. In addition, Chinese oil refineries purchase a significant volume of oil by sea.
According to Chinese customs data, daily imports of oil from Russia reach about 2 million barrels. In monetary terms, this is equivalent to approximately 130 million dollars per day, according to Reuters’ calculations.
The majority of purchases are made by state energy giants CNPC, Sinopec, CNOOC, and a number of private refineries.
Exports to India
India ranks second among buyers of Russian oil and is the main consumer of the Urals grade. The Indian market also receives shipments of Sokol, ESPO Blend, and Arctic grades. According to data from the analytical platform Kpler, India imports about 1.8 million barrels of Russian oil daily.
The main recipients are the world’s largest refinery, Reliance Industries, the private Nayara Energy (partially owned by Rosneft), as well as the companies Indian Oil and ONGC.
Exports to Türkiye
Türkiye rounds out the top three largest buyers, having increased its imports of Russian oil to a record level of about 400,000 barrels per day in June, according to data from LSEG.
This rise in purchases is explained by the drop in the price of Urals crude, which since April has consistently traded below the $60-per-barrel cap. The key refiners in Türkiye are the STAR refinery, owned by Azerbaijani SOCAR, and the company Tupras.
Trump’s tariffs
On July 14, US President Donald Trump threatened Russia with new measures, as Moscow shows no willingness to end the war against Ukraine.
The American leader promised to impose 100% secondary tariffs if a peace agreement is not reached within 50 days. This means such tariffs would threaten countries that continue trading with Russia.
