China snaps up distressed Russian oil cargoes shunned by India
20 February 2026
Time to read: minutes
“China is now enjoying a massive incentive to bring in the Russian crude, given they are the buyer of last resort for any stranded oil,” said June Goh, senior oil market analyst at Sparta Commodities SA. They can also stockpile the barrels given the tense geopolitical climate at present, she said.
Bloomberg, February 20, 2026 – China is capitalising on deep discounts as the buyer of last resort for stranded Russian crude, enjoying a “massive incentive” to absorb barrels shunned by India, according to Sparta’s June Goh.
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