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Shunned Russian Oil May Be Grabbed by Hungry Chinese Buyers

  • Traders say importers may take advantage of any cheap cargoes
  • Sanctions after invasion may put off European, U.S. companies
Bloomberg business news
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Chinese companies are expected to scoop up discounted Russian oil should sanctions deter other buyers, traders said, potentially repeating a pattern seen when Iran and Venezuela were hit by U.S. curbs. 

Importers in the top oil user are likely to take advantage of the opportunity to build up stockpiles on the cheap, they said. Potential Chinese buyers may use workarounds to secure cargoes as other nations avoid dealings with Russia.