Delivery times for Russian oil to China have increased due to sanctions – media

US sanctions have increased the delivery time of Russian oil to China by three weeks

The delivery time of Russian oil tankers to China has increased by almost three weeks due to US sanctions affecting major Russian oil companies and their fleet.

Russia faces new challenges on Arctic routes after the introduction of sanctions against major oil companies such as “Rosneft” and “Lukoil”. This has affected the delivery times of oil from Murmansk and Baltic ports to China. According to Bloomberg data, the route via the Northern Sea Route (NSR) now takes 48 days, which exceeds the previous 27 days. From the Baltic, this period increased from 31 to 50 days.

The reason for the extension of the terms was the ban on servicing about 180 ships, which, among other things, operated on Arctic routes. At this time, tankers are forced to look for other delivery routes such as bypassing Europe through the Suez Canal, which, although longer, remains available. Thus, the delivery time by tanker from the Baltic has slightly changed from 51 to 53 days. Despite the fact that most vessels on this western route are not subject to US sanctions, it is still longer compared to the route through the Arctic.

The US sanctions imposed against the Russian oil industry, which in October affected 70-80% of exports, have complicated oil export to China. Already 18 tankers have been forced to partially transfer oil to other ships off the Russian Pacific coast in order to mask their route.

The context of sanctions and the new route strategy are reflected in global oil markets. Russia is trying to maintain the competitiveness of its oil, but the loss of delivery speed creates challenges in finding buyers. Meanwhile, other countries, such as China, are trying to establish their annual shipments through the Northern Sea Route on a regular basis, which demonstrates a growing interest in this route.