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More Russian oil than ever before heading for China, India amid sanctions

Asia overtook Europe as the largest buyer for the first time last month, and that gap is set to widen in May

Combined Russian oil flows for Asia’s top two buyers, India and China, surged to records in April. (Photo: Bloomberg)
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Combined Russian oil flows for Asia’s top two buyers, India and China, surged to records in April. (Photo: Bloomberg)

Sharon Cho | Bloomberg
A record volume of Russian oil is on board tankers, with unprecedented amounts heading to India and China as other nations restrict imports because of the war in Ukraine.
 
Between 74 million and 79 million barrels from the OPEC+ producer were in transit and floating storage over the past week, more than double the 27 million barrels just before the February invasion of Ukraine, according to Kpler. Asia overtook Europe as the largest buyer for the first time last month, and that gap is set to widen in May, according to the data and analytics company. 

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First Published: May 27 2022 | 2:21 PM IST

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