Russian tankers with oil drift near China: supply volume fell to a record low.

According to ТСН: In the Yellow Sea, near the Chinese shores, five tankers are drifting, having transported 3.4 million barrels of Russian oil.

This figure is a record for the past five years and is double the figures from a week ago. The tankers remain near Shandong province, where most of China's private refineries are located, known for their loyalty to importing sanctioned oil.

Unusual situation with Urals

This situation is particular, as the tankers are loaded with the main export grade Urals, which is typically sent to India. Chinese refineries, accustomed to other types of oil from the Far East, are facing new challenges during unloading.

The reason that Urals ended up near the Chinese shores is the decline in demand for Russian oil in India due to US sanctions against major exporters. According to Indian officials, in December, supply volumes from Russia may fall to 800,000 barrels per day, whereas in June this figure was two million barrels.

Actions of Russian suppliers

Kpler analysts pointed out that Russian suppliers are actively seeking new buyers and lowering prices. As a result, Urals in China may be offered even lower than Iranian oil, which is also in demand in Shandong province. However, it is currently unknown whether oil products have been realized under such conditions.

At the same time, four out of the seven largest oil refining companies in India have begun actively purchasing Russian oil, taking advantage of discounts on unauthorized supplies.

New sanctions from the USA

The United States has soon imposed new sanctions against Russian companies, including Rosneft and Lukoil, in response to Russia's inadequate commitment to a peace process aimed at ending the war in Ukraine.

By early 2026, Russian oil imports to India may reach their lowest level in four years due to US sanctions and restrictions on Rosneft and Lukoil.

Prices for Russian crude oil have fallen to their lowest level since the onset of the full-scale war of the Russian Federation against Ukraine. Western sanctions are forcing Russia to lower oil prices, adversely affecting the value of futures contracts for benchmark grades.

Experts believe that in light of new sanctions and declining demand in India, Russian suppliers will find it difficult to resolve the issue of oil realization. This may lead to further changes in the energy market, as well as affect global energy prices.