Zero Hedge: Russia Leans On Turkey, India, China For Oil Sales Before EU Ban
The three countries that helped Moscow to maintain crude exports in the wake of its invasion of Ukraine appear to be stepping back into the market for Russian barrels, with Turkey taking a lead role in the latest buying.
A marked increase in the volume of crude on tankers that have yet to signal a final destination makes the task of monitoring Russia’s exports more complicated, but most of those vessels end up in India, with a smaller number heading further east to China. Adding those ships into the calculation shows a steady increase in the combined flow of Russian crude to Turkey, China and India in recent weeks.
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WNU Editor: China has been a big buyer .... Russian oil supplies to China up 22% on year, close second to Saudi - data (Reuters).
The EU ban on Russian oil, and the expected shock to supplies and prices that it will produce, is to begin on December 5.