Published: · Region: Global · Category: markets

Sinopec’s Turn to Russian Oil Deepens Global Energy Realignment Around Iran War

China’s state-owned giant Sinopec is increasing imports of Russian crude to offset supply cuts from the Middle East, according to traders and shipping trackers. The shift tightens Moscow–Beijing energy ties, reroutes sanctioned barrels into Asia, and underscores how the Iran conflict is quietly remapping crude flows and leverage in global oil markets.

China is pulling more of its oil from Russia’s pipeline, as conflict and politics unsettle traditional flows from the Middle East. Traders and shipping data indicate that Sinopec, the country’s largest refiner, has raised imports of Russian crude in recent weeks to make up for supply cuts linked to turmoil in the Gulf and surrounding region. The move, reported on 6 August, reflects a pragmatic calculation in Beijing: with the Iran war disrupting some Middle Eastern exports and raising geopolitical risk premia, Russian barrels—discounted under Western sanctions—offer both price advantages and a measure of security of supply. For Moscow, facing bans or caps in Europe and pressure on its maritime…

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