Russia's Arctic Crude Shipments Surge Past 10 Million Barrels Amid Global Supply Disruptions

Russia has shipped over 10 million barrels of crude oil to China through the Northern Sea Route (NSR) this year, according to multiple trading sources and vessel-tracking data from London Stock Exchange Group (LSEG).

This surge in shipments reflects Chinese refiners' efforts to secure alternative supply sources due to disruptions in Iranian crude exports and concerns over Middle East shipping routes.

The NSR offers a shorter distance to Asia compared with the conventional route through the Suez Canal, and it is typically navigable from July through October. This year's volume has already reached nearly 80% of last season's total, which was approximately 13 million barrels.

All crude transported via the NSR so far this year has been destined for China, with 12 oil tankers using the Arctic route to discharge their cargoes in the country. However, traders say shipments to other Asian countries, including India, are planned for later in the season.