U.S. allowed Kazakhstan to transport Russian oil to China — Bloomberg

The United States allowed Kazakhstan to transport Russian oil to China. The permit will be valid until March 19, 2027, according to Bloomberg.

According to the agency, this decision gives Kazakhstan the opportunity to continue pumping about 200 thousand barrels of oil daily, which is important in conditions of supply restrictions from The Persian Gulf, caused by the closure of the Strait of Hormuz and the conflict in the Middle East. Also, license renewal reduces the pressure on Russia, which otherwise would have to look for alternative ways to export.

In this regard, Kazakhstan and Russia is negotiating to increase the annual volume of oil transit to 12.5 million tons.