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As US President Donald Trump’s push on oil tariffs loses momentum, China is set to lift Russian oil imports in January, taking barrels that had been bound for India and Turkey as sanctions force Moscow to redirect flows, LSEG data and traders said.
The United States and the European Union imposed sweeping sanctions in late 2025 on Russian oil sellers and shippers, including Rosneft and Lukoil, complicating deals for global buyers and tightening oversight of Russian crude exports.
Preliminary LSEG figures show China is set to receive nearly 1.5 million barrels per day by sea this month, up from 1.1 million barrels per day in December. Beijing, already a major buyer of Russian Far East ESPO Blend, also lifted imports of Russian Urals crude to a record 405,000 barrels per day in January, the highest level since mid-2023, according to data from energy consultancy Kpler.
Purchases fall in India and Turkey
India, which had been the largest seaborne buyer of Russian Urals since the EU embargo in 2022, reduced purchases to below 1 million barrels per day in December, down from an average of 1.3 million barrels per day last year, LSEG data showed. Indian refiners are expected to keep imports near 1 million barrels per day in January as they diversify supply.
Turkey also lowered Urals imports in January to about 250,000 barrels per day, compared with an average of 275,000 barrels per day in 2025 and well below the record 400,000 barrels per day recorded in June last year.
Price discounts widen
“As Indian and Turkish buyers cut purchases recently, some Russian Urals cargoes headed for China,” said a trader involved in Russian oil sales. He added that the surplus of Urals barrels weighed on prices.
Discounts for Urals crude delivered to China in late 2025 widened to as much as $12 per barrel below ICE Brent for some cargoes, while current Urals differentials are near minus $10 to the benchmark, according to two traders active in the Asian market.
Demand for Urals in India and Turkey, both significant exporters of diesel to Europe, weakened following the EU ban on fuels made from Russian-origin crude, traders said.
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