Russia shifts oil routes to China
The article explains that Russia has increased its oil shipments to China via the Northern Sea route, with the transported volumes surpassing 10 million barrels since the beginning of the year. This figure reflects the growing demand for Russian oil amid disruptions in Iranian supplies and regional tensions. Russia has relied on this passage, which connects its western ports to Asian refineries through Arctic waters, offering a shorter route available from July to October. Currently, 12 tankers use this route, with all expected to export oil to China, and potentially later to other Asian countries such as India, given the risks associated with alternative routes like the Strait of Hormuz. China has become the largest importer of oil via this pathway, especially as Iranian oil supplies decline and delivery premiums increase, highlighting the Northern Sea route's importance as a commercial alternative amid geopolitical tensions.
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