China buys oil from Russia in "gray"

China buys oil from Russia in "gray"
Photo by Aleksey Malinovski / Unsplash

According to ship brokers, buyers are using creative ways to maintain flows as more shipowners avoid Russian oil because of the potential consequences of financial sanctions.

Small ships are used to shuttle between the Russian port of Kozmino and Yosu waters in South Korea, where cargoes are transshipped from the ship to supertankers for the next shipment to China.