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India Boosts Far East Russian Oil Imports as War Upends Trade Routes

India raised its purchases of Russia’s Far East crude blend ESPO in the first seven months of the year as China backed out of the spot market in the first months of the Iran war and deliveries to…

  • India's ESPO imports from Russia increased by 16% in first seven months of 2024.
  • China's share of ESPO shipments from Kozmino port fell to 83% in July.
  • Indian refiners view ESPO as a backup option due to higher costs and longer delivery times.

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