Despite the sanctions .. Iran and Russia's oil goes to China and India
India shipped about 89,000 barrels per day of gasoline and diesel to New York last month, the largest in about 4 years.
Shrouq
Iran and Russia sell their oil at a cheap price, while the United States of America ignores it, to ensure the stability of oil prices during the winter season.
The Ukrainian crisis strengthened relations between Russia and Iran, to the extent that Russian trade delegations went to Tehran to benefit from its experience in bypassing Western sanctions.
Russia benefited from the Iranian corridor to deliver its oil to India and Asian markets. Iran also benefited from its experience in selling oil indirectly to foreign markets, in order to meet its foreign exchange budget needs.
Iran's exports to China
According to data from oil tanker monitoring companies, Iranian crude oil exports have increased in recent months, in light of the increase in oil shipments to countries such as China.
Iran's exports of crude oil and condensate over the past three months have risen by an average of about 1 million barrels per day, according to data from companies such as Tanker Trackers and Kepler, a tanker tracker.
Many Iranian and Malaysian oil shipments go to China via Malaysia, where Iranian crude oil is blended with others in an effort to disguise that it comes from Iran or Venezuela, Because the volume of imports exceeds the needs of the Malaysian market for oil. Iran also benefits from Gulf countries in covering up its oil exports to China.
India boosts its purchases of Russian oil
It seems that India is playing an increasingly important role in the global oil markets after the new sanctions on Russian oil, as India has boosted its purchases of cheap Russian oil with the aim of refining it and then exporting it as fuel to Europe and the United States.
A Bloomberg report stated that India shipped about 89,000 barrels per day of gasoline and diesel to New York last month, the largest in about 4 years.
sanctions on Russia
Indian refiners make big profits by buying cheap Russian crude and re-exporting it to the West at market prices.
And the European Union announced that it would start implementing a ceiling on the price of Russian oil, provided that the grace period would be extended up to 55 days for the transfer of Russian oil products to which the price limit was not applied by sea.
It is reported that on December 5, 2022, Western oil sanctions entered into force, as the European Union stopped accepting Russian oil transportation by sea.
