Russia deployed at least four VLCC supertankers in December 2022 to export Urals oil to China, and one for delivery to India in January of this year. Traders note that this allows to reduce the cost of transporting oil to Asia.
Russian oil exports from the Baltic Sea ports to Asian countries increased by 27% from January 1 to 15, to 2.8 million tons, compared to the same period in December 2022. At the same time, the export of Russian and Kazakh oil from the ports of Primorsk and Ust-Luga for the first 15 days of the year amounted to 3.4 million tons, which is 35% more than in the first half of December.
Russia redirected oil supplies to the Asia-Pacific region after the entry into force of the EU oil embargo and the introduction of a price ceiling for offshore supplies. According to Reuters, Russia sells oil to China and India at a deep discount.
