MOSCOW, February 11Moscow does not set a goal to “specifically replace” Iran in the issue of oil supplies to China, and does not interfere in Beijing’s trade with third countries, Ivan Zhelohovtsev, director of the first Asian department of the Russian Foreign Ministry, said in an interview.
«As for increasing oil supplies (from Russia to China — ed.), I would like to emphasize that our interaction is carried out on a market basis. We do not specifically pursue the goal of replacing anyone or replenishing someone else's volumes,» — the diplomat said, answering a question about Moscow’s readiness to increase oil supplies in connection with reports of a reduction in the share of Iranian fuel in Chinese imports.
According to him, the main factors in increasing supplies are the balance of supply and demand, as well as the coincidence of interests of Moscow and Beijing.
“We do not interfere in China’s partnerships with third countries, especially with Iran, with which we also maintain friendly relations. The Chinese side diversifies its supplies as it considers necessary,” Zhelohovtsev said.
Reuters reported in early January that Iran had increased the cost of oil supplied to China, creating trade difficulties between Tehran and Beijing. As a result, oil supplies from Iran to China have decreased.
A little later, Bloomberg, citing traders, wrote that private oil refineries in China were buying Russian ESPO oil faster than usual. According to them, 3.8 million tons of cargo for delivery in February were sold out during the first two weeks of January. Traders argued that the increase in purchases is due to the fact that Iranian sellers are insisting on higher prices for their oil.
Read the full text of the interview with Ivan Zhelohovtsev >>