Russian Oil for India Piles Up Off China: A New Geopolitical Game?

• Russian Urals crude oil, originally destined for India, is accumulating off China's eastern coast.
• Five tankers carrying approximately 3.4 million barrels are anchored in the Yellow Sea, the highest in five years.
• India reduced its purchases of Russian Urals crude after US sanctions on two major Russian oil companies.
• China typically does not buy this specific Urals grade from Russia's western ports, preferring eastern terminals.
• Russia is actively seeking new buyers in East Asia due to India's significantly decreased demand.

Why It Matters: India's reduced Russian oil imports due to sanctions lead to oil accumulation off China, forcing Russia to find new buyers.