Shipments of crude to China and India have surged as Moscow redirects supplies from the EU
Russia has sharply increased oil shipments to China and India this year, Nikolay Tokarev, the CEO of the Russian state-owned pipeline transport company Transneft, told the Rossiya24 broadcaster this week.
Russia remained China’s top crude supplier in November as Beijing imported around 2.2 million barrels of oil per day (bpd), according to Chinese customs data. Imports of Russian oil jumped by 22.2% between January and November compared to the same period last year.
India, which boasts Asia’s third-largest economy and is the world’s third-largest oil importer and consumer, has also become a major importer of Russian crude oil. According to ship-tracking data, India’s imports of Russian crude hit a four-month high last month, amounting to 1.6 million bpd.
“Export volumes to China and India have increased significantly, many times over. I can say that…