China’s crude oil imports are shifting as the country adapts to US sanctions and geopolitical pressures, according to industry sources. In response to restrictions on sanctioned tankers, Chinese refiners are increasingly using non-sanctioned vessels to maintain imports of Russian and Iranian crude. Ports like Dalian and Shanghai have started accepting sanctioned shipments, but challenges remain due to limited storage and higher costs. To bypass these constraints, ship-to-ship transfers in Malaysia have been used to facilitate Iranian crude shipments. Additionally, a newly formed non-sanctioned fleet is helping increase Russian crude imports. Despite these adaptations, the demand for Russian oil remains lower than for Iranian crude, due to its steeper discounts, industry sources note.
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Source: Riviera Maritime
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