Tanker operators willing to ship Russian crude are making a substantial amount of money sending Russian crude to China from Russia’s Far East.
- Jul 05, 2022, 10:30 AM CDT
The report cited shipowners who said that industry players from Greece, China, and Turkey are eagerly taking advantage of the situation. Normally, they use Aframax tankers, which can carry about 730,000 bpd of crude, and transport ESPO from the Kozmino port on Russia’s Pacific coast. China has become the main destination for Russian oil, along with India, since Moscow invaded Ukraine in late February. The European Union has announced plans to impose an embargo on Russian oil imports later this year, but in the meantime, it is taking in all it can to stock up ahead of the embargo.
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