Russia's oil exports to Europe dips as fuel quality on offer deteriorate

Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.

Russia increased oil pipeline exports to China by almost 50 per cent in January-April from a year earlier to 12.4 million tonnes, Igor Dyomin, a spokesman for Transneft, Russia’s oil pipeline monopoly, said on Tuesday. Moscow has embarked on a so-called “pivot East” strategy and tried to boost ties with Asia as its relations with the West have chilled over Russia’s role in Ukraine’s conflict and its alleged meddling in