Oil supplies to China, the fruits of the Russian partnership began to emerge

Moscow: Russia has become the largest supplier of oil to China.

According to foreign media reports, data from the Chinese General Administration of Customs states that Russia supplied a record amount of oil to China last month, causing Chinese exports to increase by 55% in May compared to the same month last year.

Due to its dependence on Russian oil, China reduced its Saudi oil imports from 2.17 million bpd in April to 7.82 million tons or 1.84 million barrels per day, while Brazil’s supply fell by 19% to 2.2 million. Million tons.

According to the report, Russian oil imports to China last month were about 8.42 million tons or 1.98 million barrels per day, including volumes pumped through the East Siberian-Pacific Ocean pipeline and shipments from Russia’s European and Far Eastern ports. Is.

China’s increase in Russian oil purchases came after Moscow introduced heavy discounts on its crude oil earlier this year, when traditional Russian buyers began blocking exports due to sanctions on Ukraine.

Also read: When will the Russia-Ukraine war end? NATO chief’s prediction

Since the end of February, the United States, the European Union and their allies have introduced measures to ban Russian energy supplies. In early June, the European Union approved a package of sanctions banning oil purchases from Russia and banning “insurance and reinsurance for shipping oil and oil products to third countries.”

Total oil imports in China rose by about 12 percent to 10.8 million barrels per day in May due to a steady decline in corona cases.

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