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Chinese refineries have begun using telegraphic transfers to pay for Russian oil deliveries, fearing the consequences of sanctions imposed on Russia.
It is reported by Reuters news agency.
At the same time, it is noted that several European and American refineries stopped buying Russian oil this week, although Washington said that Russian energy products are not subject to sanctions.
When paying by wire transfer, buyers are reportedly required to transfer funds up front to sellers, a problem for some independent refiners as each Aframax tanker-sized cargo now costs more than $85 million.
According to the publication, in 2021 alone, China imported 575,000 barrels of ESPO per day delivered by tankers. This represents about 6% of total crude oil imports, with ESPO oil being processed mainly by independent refineries.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
