China, India and Turkey to siphon more Russian oil ahead of EU ban

Extra crude finds eager Asian buyers for now but scale of future demand is uncertain

India, China and Turkey recorded large increases in the numbers of tankers bringing Russian oil. (Source photos by AP and Reuters)

NESREEN BAKHEIT and RURIKA IMAHASHI, Nikkei staff writers

June 9, 2022 15:05 JST

DUBAI/TOKYO -- China and India are continuing to increase imports of Russian oil in a dramatic reshaping of global trade in energy, according to the latest industry data. But the ability of Asia to absorb more production will be tested as the European Union winds down imports from Russia in response to the invasion of Ukraine.

Between the start of the war on Feb. 24 and June 2, a total of 290 oil tankers departed Russia for Asia, according to a Nikkei Asia analysis of data from Refinitiv. That is up from 190 in the same period last year.