Sanctioned Russian Oil Exports to China Jump as STS Transfers Rise ...Middle East

Economy by : (OILPRICE) -
Chinese imports of Arctic Russian crude grades are on the rise as ship-to-ship (STS) transfers from sanctioned vessels on non-sanctioned tankers offshore Malaysia and Singapore are booming, according to traders and analysts. The Biden Administration’s farewell sanctions on Russian oil trade and exports sanctioned dozens of vessels carrying the ARCO, Novy port, and Varandey crudes from Russia’s Arctic oil projects. The sanctions, slapped in early January, blacklisted dozens of vessels that Russia used to ship the ESPO crude blend from…

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