Russia has become China's largest oil supplier
Economy
China continues to buy oil from Russia and sell it to the West in the form of petroleum products, and thus helps it circumvent sanctions.
At the end of 2023, Russia surpassed Saudi Arabia and became the largest supplier of crude oil to China. This was reported by Reuters on Saturday, January 20, citing data from Chinese customs.
According to these data, oil supplies from Russia to China in 2023 amounted to 107.02 million tons, which is equivalent to 2.14 million barrels per day.
As the agency notes, this is a record amount of fuel shipments in the history of China-Russia relations and the number is much higher than that of other oil exporters to China - Saudi Arabia and Iraq.
At the same time, China reduced in favor of the Russian Federation oil purchases from the Saudis - by 1.8% (to 85.96 million tons). However, the total imports of crude oil to China in 2023 rose to a record 563.99 million tons
It is noted that Russia sells almost all of its oil to India and China.
At the end of 2023, Russian Deputy Prime Minister Alexander Novak said that China accounted for about 45-50% of Russian oil exports, while India's share rose from almost zero to 40% in two years.
"Russia's exports of oil and petroleum products to Europe have declined from nearly 45% to 5% in 2023," Novak said.
At the same time, European countries buy oil products from India and thus indirectly pay for fuel to Moscow - although the EU has imposed an embargo on oil supplies from Russia because of its invasion of Ukraine. In early January, the British publication Independent wrote that in 2023, imports of oil products to the EU from India increased by 115% to 231.8 thousand barrels per day, which was the highest figure for the last seven years.
According to these data, oil supplies from Russia to China in 2023 amounted to 107.02 million tons, which is equivalent to 2.14 million barrels per day.
As the agency notes, this is a record amount of fuel shipments in the history of China-Russia relations and the number is much higher than that of other oil exporters to China - Saudi Arabia and Iraq.
At the same time, China reduced in favor of the Russian Federation oil purchases from the Saudis - by 1.8% (to 85.96 million tons). However, the total imports of crude oil to China in 2023 rose to a record 563.99 million tons
It is noted that Russia sells almost all of its oil to India and China.
At the end of 2023, Russian Deputy Prime Minister Alexander Novak said that China accounted for about 45-50% of Russian oil exports, while India's share rose from almost zero to 40% in two years.
"Russia's exports of oil and petroleum products to Europe have declined from nearly 45% to 5% in 2023," Novak said.
At the same time, European countries buy oil products from India and thus indirectly pay for fuel to Moscow - although the EU has imposed an embargo on oil supplies from Russia because of its invasion of Ukraine. In early January, the British publication Independent wrote that in 2023, imports of oil products to the EU from India increased by 115% to 231.8 thousand barrels per day, which was the highest figure for the last seven years.
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