Despite loud statements about sanctions pressure, russian oil continues to find its way to foreign markets - this time through dumping. This is reported by Reuters.
The largest oil refiners in China and Turkey have resumed purchases of russian crude, not considering political risks, but rather the price advantage: the cost of Urals has fallen below USD 60, which formally allows avoiding sanctions pressure.
Sinopec, the flagship of Chinese petrochemicals, and Tupras, the main player in the Turkish market, have again become russian customers after a pause caused by fears of secondary sanctions. At the same time, neither Beijing nor Ankara are demonstrating any real willingness to limit imports if this threatens to increase the price of energy resources.
The decision to resume supplies was made just as Brent oil fell below USD 60, and russian Urals - to USD 50.
It was previously reported that oil prices continue to fall due to the escalation of the trade war between the US and China.
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