China has become the top lifter of light sweet Sokol crude after shipments to India fell following payment and shipping issues due to sanctions
Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.
The Dongying port authority declined comment when contacted by Reuters. The manager of the tanker, Sovcomflot , did not immediately respond to a request for comment. China’s Sokol crude imports surged this month and may hit an all-time high of 379,000 barrels per day, according to estimates from Kpler. The data excluded oil from the two sanctioned Russian tankers.
The U.S. Treasury’s Office of Foreign Asset Control late last month imposed sanctions on SCF and designated 14 crude vessels, including Liteyny Prospect and Krymsk, as property in which SCF has an interest.
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