Russia has become the largest supplier of oil to China



Russia has become the world's largest seller of cheap crude oil to China since the imposition of international sanctions on Russia over the Ukraine conflict. 

As of May this year, Chinese crude oil imports from Russia have increased by 55% compared to last year, making Russia the largest supplier of oil to China, instead of Saudi Arabia.

China has increased its purchases of Russian oil despite declining demand as a result of sanctions and a slowdown in the economy. 

In February, China and Russia announced that their friendship had "no limits".

Chinese companies, including Sinopec and Genoa Oil, have bought large quantities of Russian oil at discounted prices in recent months as the United States and Europe have imposed sanctions on Russia over its energy supplies due to the invasion of Ukraine.

According to the Chinese General Administration of Customs, 8.42 million tons of oil were exported last month. 


In comparison, China bought 7.82 million tons of crude oil from Saudi Arabia. Thus, Saudi Arabia, which used to be the largest exporter of oil to China, came second.

The West is responding economically to the Russian attack on Ukraine. In March, the United States and Britain announced they would ban Russian oil, while Europe said it was taking steps to reduce its dependence on Russian gas. 

The BBC's Global Trade correspondent in Dharsheni says not only China but India has also increased its purchases of Russian oil. 

Russia's revenues have not been affected by the rise in demand for Russian oil, which was feared after the invasion of Ukraine. 

However he acknowledged that their numbers were not enough to defeat Trump's government.

On sanctions on Russian oil, US President Joe Biden said the move was aimed at "hitting the lifeblood of the Russian economy."

Energy exports are Russia's main source of income, but sanctions are also affecting Western consumers. 

The think tank Center for Research on Energy and Clean Air said in a report last week that crude oil exports to Russia within 100 days of the invasion of Ukraine generated about ً 100 billion in revenue, although its exports in May There was a decrease. 

Of this, EU imports accounted for 61%, valued at about 59  billion.

However, Russia's gross domestic product (GDP) from oil and gas exports is declining, reaching more than بل 1 billion a day at its peak in March. 

But Ukraine's costs of the first 100 days of the crisis are far greater than Russia's income, which the Center for Research on Energy and Clean Air estimates is 87 876 million a day. 

According to Monday's figures, China also imported 260,000 tonnes of crude oil from Iran last month. 

This was his third shipment since December. 

China has been buying Iranian oil despite US sanctions on Tehran.

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