In contrast, oil imports to India have fallen to approximately 1.2 million barrels per day, which is 40% lower than the record set in June 2025.
The increase in supplies to China has affected all major grades of Russian oil, including Urals, which is sourced from both Black Sea and Baltic ports, as well as Arctic regions. Chinese oil companies have been attracted by significant discounts, reaching $12 per barrel off the Brent price.
Senior analyst at Sparta Commodities, Jun Go, noted: "China is now receiving a strong incentive to purchase Russian oil, becoming the last buyer for the oil 'ballast'.
However, such a reorientation of supplies is associated with certain logistical difficulties. The distance from the Baltic ports to China's Shandong province is about 23,300 kilometers, while the route to the Indian port of Jamnagar is approximately 14,200 kilometers. Due to the increase in routes and delays with tankers, which can wait for weeks to unload off the coast of Oman, in the Suez Gulf, and near Singapore, the volume of oil on maritime routes has risen to 140 million barrels, which is more than 60% higher than the level at the end of August 2025.
As Bloomberg emphasizes, changes in flows began in August 2025, when India started to reduce purchases under pressure from the United States. In response, Russia offered Chinese buyers Urals oil at significant discounts, which attracted both private companies and state-owned refineries in China, despite their previous loyalty to ESPO oil from the Far East.
