India's imports of Russia's ESPO crude from the Far East surged to 16% of its total crude imports in the first seven months of 2026, driven by China's market exit and the closure of the Strait of Hormuz.
India increased its purchases of Russian Far East ESPO crude oil in the first seven months of this year, with its share of exports rising from 12% to 16%, Kommersant reported, citing an Argus report. This was mainly due to China's withdrawal from the spot market at the beginning of the Iran war and the disruption of Middle Eastern supplies caused by the closure of the Strait of Hormuz. During the same period, ESPO crude oil exports from Russia's Far Eastern port of Kozmino increased by 6% year-on-year. China remained the main buyer, but its share decreased from 88% to 83%.
Source:Yahoo财经 · Source Link
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