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The price of Russia's Far East ESPO crude grade has surged past $120 per barrel, driven by a Chinese buying spree amid Middle East supply shocks, according to the Moscow Times. The grade's premium over benchmark ICE Brent has reached record levels of $20 to $30 per barrel, reflecting strong demand from Chinese refiners despite Western sanctions on Russian energy exports. The price spike underscores the resilience of Russia's energy trade with Asian buyers even as Western sanctions efforts, including a newly passed US 'Sanctions From Hell' package, aim to curb Moscow's oil revenues. Analysts say the shift in global crude flows caused by Middle East disruptions has inadvertently boosted demand for Russian barrels in China.