by Chris Black
The sanctions are working phenomenally.
The US has forced a massive shift in global economic power to their enemies through their lunatic war in the Ukraine.
🇷🇺Following introduction of price cap on Russian oil,Moscow is sending more crude oil produced in the Arctic to China & India,with a record 6.67M barrels loaded in Nov & 4.1M barrels in Dec. pic.twitter.com/1acH7bdRmC
— John Carter (@JohnEdgarCarter) January 10, 2023
RT:
China has ramped up imports of a wider variety of Russian crude oil, including Arctic grades with a rare and less-known dense and highly sulfurous Arco, Bloomberg reported on Tuesday, citing oil-flow tracking data from Vortexa and Kpler.
…
Some traders believe the development illustrates a rerouting of Russian supplies internationally, as well as China’s shift away from Middle Eastern imports of oil such as Iraqi grade Basrah Heavy. The increased imports of Arctic oil come after China’s daily crude and condensate imports hit the second-highest level on record last month, according to Kpler.
“The rerouting of Arctic grades is absolutely taking place,” lead oil analyst with Vienna-based Kpler Viktor Katona said, adding that “Russia’s Arctic grades were among the Europe-oriented streams that since December 5 have to find new homes elsewhere, and in all of those cases, it’s pretty much an India and China split.”