OREANDA-NEWS  In the second half of December, discounts on the main Russian export grade of Urals oil sold at Baltic ports for Chinese buyers soared to $ 35 per barrel relative to the Brent grade. This is reported by Reuters with reference to sources.

On average, the discount on Urals is $21.5 per barrel in the Baltic Sea and about $20 in the Black Sea. Thus, the cost of the grade is about $40 per barrel, which is 40 percent lower than at the beginning of the year and one third worse than the levels budgeted for in 2025 and 2026.

The sharp increase in discounts began after the introduction of US sanctions against Russia's largest oil exporters. In addition to problems with customers, Russia is faced with a shortage of tankers. Greek companies, which were involved in a quarter of all exports back in November, began to abandon transportation.

By the end of November, the average tax value of Urals, according to the Ministry of Finance, dropped to a minimum of $ 44.87 per barrel over the past five years. At the same time, the agency expects the situation with oil and gas revenues to worsen in December. According to the forecast, they will be below the base level by 137.6 billion rubles.

The supply problem is also exacerbated by new sanctions against the shadow fleet and attacks by Ukrainian troops on ships involved in the transportation of Russian oil.

Earlier it became known that ships with Urals shipments began to accumulate in the Yellow Sea, sent to the shores of China after Indian buyers did not want to accept the cargo.