China will not abandon Russian oil because of Trump's duties

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to TASS on the consequences of the possible introduction of increased customs duties by the United States against countries importing Russian oil.

"China, given the already high level of duties imposed and its overall geopolitical position, is likely to try keeping the current maximum volume of Russian imports," Alexey Belogoryev said. He is not yet waiting for the impact of possible duties on the market.

"In any case, until September, I don't think there will be any impact on the market, including freight rates or prices for Russian varieties," the expert stressed.