China has seized and the moment acquired large volumes of Russian Urals oil. Due to the coronavirus pandemic and falling demand in Europe, Russian oil is sold at low prices, Reuters reports.
In the past few days, the Chinese company Unipec has purchased about 800,000 tons of Urals with transshipment in the Baltics in late March and about 500,000 tons with shipment in early April.
In addition, in early April another 300,000 tons of Russian rough will be shipped to China by Shell.
Traders report that they have received requests for supplies of Urals from several other companies from China.