Russia Becomes Chin’s Biggest Oil Supplier
Amid the Ukraine war, Russia has become China’s biggest supplier of oil, customs data showed on Monday (June 20). Amid sanctions on Moscow for invading Ukraine, China’s imports of oil from Russia rose 55 per cent in May, displacing Saudi Arabia as China’s biggest provider. In May, China imported around 8.42 million tonnes of oil from Russia.
Unlike the West, Beijing has refused to condemn Moscow’s war. This year in February, China and Russia declared their friendship had “no limits”. Moreover, Chinese President Xi Jinping last week assured his Russian counterpart Vladimir Putin that Beijing will support Moscow’s “sovereignty and security”
Russia has become China’s biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war.
Imports of Russian oil rose by 55% from a year earlier to a record level in May, displacing Saudi Arabia as China’s biggest provider.
China has ramped up purchases of Russian oil despite demand dampened by Covid curbs and a slowing economy.
And Chinese companies, including state refining giant Sinopec and state-run Zhenhua Oil, have increased their purchases of Russian crude in recent months after being offered heavy discounts as buyers in Europe and the US shunned Russian energy in line with sanctions over its war on Ukraine.
The imports into China, which include supplies pumped through the East Siberia Pacific Ocean pipeline and shipments by sea, totalled nearly 8.42m tonnes last month, according to data from the Chinese General Administration of Customs.
That pushed Saudi Arabia – formerly China’s biggest source of crude oil – into second place with 7.82m tonnes.
Russia replaces Saudi Arabia as China’s biggest crude oil
Russia has become China’s biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war.
Russia becomes biggest supplier of oil to China
Russia has become China’s biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war, media reports said.
Imports of Russian oil rose by 55 per cent from a year earlier to a record level in May, displacing Saudi Arabia as China’s biggest provider, BBC reported.