It’s early to measure the impact of sanctions on oil products, but Russia will probably find it harder to source Asian buyers for its refined products than for its crude. China and India have plenty of refineries, after all.

China and India are net importers of crude but net exporters of refined products.^{1) 2)}

India and other Asian countries such as China are having difficulties accessing Russian oil cargoes as traders avoid sanctioned tankers.^{3) 4)}

Hence, Asian countries have been looking at crude grades from the Middle East and African nations.