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A Key Russian Oil Grade Sells Out as Asia Snaps Up Barrels

  • Traders say May cargoes going to China, India, Japan, Korea
  • Biden administration warned India about Russia relationship
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WATCH: Despite these Western sanctions, there are signs that Russia is continuing to export oil and gas. Source: Bloomberg
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Cargoes of Russian Sokol crude from the Far East have sold out for next month in a sign that shipments from the nation continue to find buyers despite Moscow facing more sanctions for its war in Ukraine.

May-loading cargoes from the Sakhalin-I project will be delivered to buyers in Japan, South Korea, China and India on a spot or term basis, said traders who asked not to be named because the information is private. Sokol yields a lot of diesel, and it can be shipped to nations in north Asia within a week.