Tankers with almost 4 million barrels of Russian oil stop off coast of China
By Alimat Aliyeva
Five tankers carrying nearly 4 million barrels of Russian oil are idling off the coast of China, with four of them currently under U.S. sanctions, Azernews reports.
The publication notes that the volume of idle oil has nearly doubled in just a few days. It emphasizes that this "stuck" fuel could increase further in the near future.
China's major ports are reportedly hesitant to accept Russian oil, even though new sanctions have not yet come into effect, according to the report.
Ship brokers suggest that, due to the current situation, there may be an increase in fuel transshipment from ship to ship, as well as a rise in the use of smaller ports for unloading.
The day before, analysts from the International Energy Agency (IEA) revealed that Russian oil exports had decreased by an average of 250,000 barrels per day in December 2024.
This rising trend of stagnant Russian oil off China’s coast reflects both the challenges faced by Russia in finding alternative markets and China's strategic approach to navigating global sanctions.
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