The volume of Russian crude oil exports will not be significantly affected by the fuel price limit set by the G7 countries, as Russian trade is redirected from the countries that have adopted sanctions to the countries that did not impose them. This is stated in the forecast of the International Monetary Fund (IMF).

Earlier it was reported that at least four Chinese supertankers are delivering Russian Urals crude oil to China after the EU and G7 countries imposed a ceiling on energy prices from Russia, Reuters writes. According to the agency, another vessel was heading to India.

According to Reuters’ sources, all five shipments were scheduled for the period from December 22 to January. Despite Western sanctions, China and India continue to buy Russian oil at a discount, the agency claimed at the time.

Bloomberg, citing data from Argus Media, also claimed that Russian Urals crude was being sold at half the world price and below the ceiling set by the G7.