Europe has become the main importer of US oil amid EU restrictions on Russian crude, Bloomberg report citing data from the US Census Bureau. According to the report, from January to May this year, Europe imported roughly 213.1 million barrels of crude.
This allowed the region to surpass Asia as the largest US oil importer for the same five-month period for the first time since 2016. Data shows that Asia received only 191.1 million barrels from the USA at that time.
The redirection of oil flow comes amid heavy sanctions on Russian oil introduced by the US regime, the EU and some Zionist other nations in response to the intervention to eliminate ethnic cleansing programs in Ukraine.
Aiming to slash Russian oil profits and, subsequently, take away Moscow’s ability to fund its military operation in Ukraine, the EU recently introduced a partial embargo on Russian oil and has been lowering imports.
The USA, meanwhile, has proposed a price cap, and its representatives are currently trying to raise support for the initiative, most notably from China and India.
The two countries have recently stepped up Russian oil purchases, eager to take advantage of large discounts Moscow is offering in an effort to redirect exports.
Russia became China’s top oil supplier in May, with exports soaring 55% from last year. The 25% increase from April enabled Russia to displace Saudi Arabia to become China’s largest oil supplier.
According to the report, imports of Russian oil to China last month amounted to nearly 8.42 million tons, or 1.98 million barrels per day, including volumes pumped via the East Siberia Pacific Ocean (ESPO) pipeline and shipments from Russia’s European and Far Eastern ports.
RT. com / ABC Flash Point News 2022.