Supplies of Russian ESPO crude from the Far Eastern port of Kozmino increased by 6% year-on-year in January–July 2026, reaching 28.2 million tonnes. This is shown by data from an Argus review highlighted by Kommersant. China remains the main sales market, but its share in the shipment structure fell from 88% to 83%, while Indian refiners accounted for 16%, compared with 12% a year earlier.

In August, according to data for the first three weeks, 2.8 million tonnes of ESPO were shipped from Kozmino, 2.14% more than in July. China received 2.37 million tonnes, while India received 216,000 tonnes. Two more cargoes of 100,000 tonnes each were shipped to Asian ports, with the recipient country not specified.

Notably, Kozmino was the only major port to show growth: in the absence of tankers, Novorossiysk reduced shipments by 4.4 times, while Baltic ports cut volumes by 4.8 times.

Experts link the positive dynamics for ESPO to a recovery in Chinese demand. According to Andrey Polishchuk, Senior Analyst for the oil and gas and transport sectors at Euler, after a period of declining purchases from 11.8 million barrels per day in March to 7.1 million bpd in June, China’s imports of this grade returned to growth in July, reaching 8.4 million bpd.

Kirill Bakhtin, Head of Research at BCS, explains the March decline in Chinese demand by restrictions on external supplies of gasoline and diesel fuel, a decision made by the Chinese authorities amid the cessation of crude supplies from the Persian Gulf. Once exporters regain the right to ship fuel out of the country, competition for Russian crude in the region will intensify, the expert believes.

ESPO is the main feedstock for China’s independent refineries: it is valued for its short delivery distance and quality. For India, as Dmitry Prokofiev, Director of External Communications at NEFT Research, explains, it is a backup option: refining capacities are configured for Urals, while delivery of ESPO to Indian refineries is twice as expensive. The country buys more of this crude only when Chinese demand falls, although India’s share may increase.