Asian countries are increasing their oil purchases from Saudi Arabia while reducing imports from Russia, Reuters reports.<\/p>\n
Main points of the article:<\/p>\n
\u25ab\ufe0f Russian oil has largely been limited to two major buyers in Asia\u2014China and India\u2014since sanctions were imposed following Russia’s invasion of Ukraine in 2022.<\/p>\n
\u25ab\ufe0f Asian imports from Saudi Arabia in November rose to 5.83 million barrels per day (up from 5.28 million in October), while supplies from Russia dropped to 3.51 million barrels per day (down from 3.96 million), marking the lowest level since January.<\/p>\n
\u25ab\ufe0f China reduced its purchases of Russian oil from 2.19 million to 2.04 million barrels per day, while India reduced its imports from 1.75 million to 1.47 million barrels per day.<\/p>\n
\u25ab\ufe0f Also, China increased its imports of Saudi oil from 1.62 million to 1.68 million barrels per day, and India boosted its imports from 610,000 to 770,000 barrels per day.<\/p>\n
\u25ab\ufe0f Russian oil incurs higher transportation costs due to the longer sea route from Russian ports in the Baltic to destinations in Asia.<\/p>\n
\u25ab\ufe0f Costs are expected to rise further with the introduction of new sanctions targeting the \u201cshadow fleet\u201d of Russian tankers: last week, the UK blacklisted 30 vessels, bringing the total to 73.<\/p>\n
A decreasing demand for Russian oil will likely hinder Russia’s ability to finance its war against Ukraine, as oil remains the country’s primary source of revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"
Asian countries are increasing their oil purchases from Saudi Arabia while reducing imports from Russia, Reuters reports. Main points of the article: \u25ab\ufe0f Russian oil has largely been limited to two major buyers in Asia\u2014China and India\u2014since sanctions were imposed following Russia’s invasion of Ukraine in 2022. \u25ab\ufe0f Asian imports from Saudi Arabia in November…<\/p>\n","protected":false},"author":3,"featured_media":23958,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","wds_primary_category":932,"footnotes":""},"categories":[933],"tags":[],"class_list":["post-23957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-south"],"acf":[],"_links":{"self":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/23957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/comments?post=23957"}],"version-history":[{"count":0,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/posts\/23957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media\/23958"}],"wp:attachment":[{"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/media?parent=23957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/categories?post=23957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cpd.gov.ua\/en\/wp-json\/wp\/v2\/tags?post=23957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}