Russian ESPO oil was sold to a Chinese buyer at the largest discount for 2025. This was a result of a significant drop in demand following the imposition of U.S. sanctions against Russian oil companies Rosneft and Lukoil. It is known that the oil was sold at a discount of $7 to $8 per barrel, purchased by an independent Chinese refinery. This latest deal is likely the first purchase of this oil grade by a Chinese refiner since the end of October. The popularity of ESPO in the Chinese market is attributed to its high diesel yield and short transportation distance.
This is reported by Finway
Sri Lanka Interested in Cooperation with Russia on Energy Resource Supply
At the same time, Sri Lanka is negotiating with the Russian Federation to ensure uninterrupted supplies of Russian oil to its market. The Sri Lankan ambassador to Russia stated that the country’s state oil corporation is also considering the possibility of purchasing liquefied natural gas (LNG) and modernizing its own refineries for stable use of Russian energy resources. So far, no official agreements have been made, but the negotiation process is ongoing.
Estonia Urges Hungary to Abandon Energy Contracts with Russia
Meanwhile, Estonia has initiated efforts to help Hungary avoid penalties if Prime Minister Viktor Orban agrees to cease cooperation with Russia in the energy sector. Estonian President Alar Karis noted that some agreements between Budapest and Moscow may remain in effect even until the 2040s. He emphasized that Hungary must abandon its dependence on Russian energy resources, as this contradicts European unity in countering Russian aggression.
“Hungary must abandon these contracts with the Russian Federation, as they support energy dependence on an aggressor state and contradict European unity in countering Russian aggression.”