The expert predicted the zeroing of American oil imports to China

The scenario of a complete cessation of oil supplies from the United States to China is quite likely, however, the current volume of such imports is not of strategic importance to either side. Igbal Guliyev, Deputy Director of the MGIMO International Institute of Energy Policy and Diplomacy, Doctor of Economics, told Izvestia on April 10.

The day before, it was reported that Washington's new duties are likely to lead to a complete reset of sales. This forecast is provided in an article by Bloomberg.

"In fairness, it should be noted that these volumes that we have been seeing lately are not strategic in nature for the United States or China. If we look at the volumes that have been available recently, especially in the first three months of this year, we will see that this is only a hundredth of China's oil imports," Guliyev explained.

The expert stressed that the United States will easily be able to redirect these supplies to domestic or other foreign markets, and China will find alternative sources.

"As for China, you can find these volumes in the Middle East, Russia or Iran — there are many alternative options," he said.

At the same time, in his opinion, the situation should be considered in the context of trade wars initiated by the United States.

"This adds uncertainty to international economic relations in general, and to the growing demand for oil. This could shake up the oil market," the expert believes.

He also added that it is important to monitor China's retaliatory measures, the dynamics of its economy and the actions of OPEC+ to stabilize the global market.

"We will look at the situation with the growth of the Chinese economy, with China's retaliatory measures. And also the actions of the OPEC+ alliance," Guliyev summed up.

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On April 4, Olga Veretennikova, vice president of the Borsell analytical company, told Izvestia that after Trump's new tariffs and retaliatory measures from China, there was a sharp drop in oil prices. She pointed out that the United States and China account for almost half of the global economy (43%). The outbreak of trade wars can lead to serious problems in the economies of these countries, which will cause them to buy less goods from other countries and the consumption of oil and petroleum products will also decrease, the expert said.

A month earlier, Trump accused China of failing to combat drug trafficking and doubled import duties on goods from China from 10% to 20%. On February 4, the State Council of the People's Republic of China reported that from February 10, China will impose duties of 15% on coal and liquefied natural gas (LNG) from the United States. In addition, it was noted that tariffs of 10% will be levied on American oil, multicompact cars, pickups and agricultural machinery.