Thursday, 9 January 2025

China's Port Restrictions Put Russian Oil Exports at Risk

 


China, according to the Reuters news agency, presented Russian President Vladimir Putin with a very unpleasant "gift" for Orthodox Christmas, which jeopardized, one might say, the very life ... of Russia's current military economy. As even the most pro-government channels note with concern, Russian oil exports to China have de facto come under American sanctions due to the "technical" decision of the Shandong Port Group, the operating company that manages ports in Shandong Province. It is there that numerous independent refineries are located, operating according to "gray" schemes, and therefore it is there that the main volumes of sanctioned oil from Iran, Venezuela and Russia are imported.

According to the company's decision, the sanctioned "shadow tankers" from Monday, January 6, are prohibited from mooring, unloading or receiving other port services in the ports of the province. We are talking about all the vessels on the list of the Office of Foreign Assets Control, which is maintained by the US Treasury Department. Restrictions on "shadow" tankers will also affect Qingdao, the fifth largest port in China, as well as the ports of Rizhao and Yantai. This puts at risk 1.74 million barrels of oil per day, or a fifth of Chinese oil imports.

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