Who will get the inflow of Russian oil under the sanctions?

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, took part in the Far East Energy Forum "Oil and Gas of Sakhalin-2022" (Russia, Yuzhno-Sakhalinsk), where he moderated the Analytical Panel of Experts "The Role of the Far East in the U-turn export flows” and reported on the topic “Who will get the inflow of Russian oil under the sanctions?”.

The TASS news agency notes that, according to Alexey Gromov, the key task is to redirect the main supplies of Russian oil products from west to east.

"Given the sanctions pressure on the Russian fuel and energy complex, we see that more than 60% of Russian export oil and up to 70% of Russian oil product exports are either under sanctions or under the threat of sanctions," Komsomolskaya Pravda quoted Alexey Gromov.

The main importers of Russian "black gold" in the East are China and India, the expert stated. If in the case of Beijing the partnership is already sufficiently developed, as evidenced by the purchase of 15.5% of imported oil from the Russian Federation, then with New Delhi everything is only at the initial stage.

Thus, until 2022, only 2% of the oil purchased by India came from Russia. This year, the numbers have grown exponentially. According to Gromov, in the future they will increase to about 20%.

Download the presentation of Alexey Gromov (in pdf)