Sino spending on Russian energy nears US$60bil since start of war
Published: 2022-11-24 11:47:19 | Written : Boualao Sophavady | Hits: 279 | Rating: 
BEIJING: China continued to boost Russian energy imports last month, as purchases of natural gas, coal, crude oil and oil products increased to nearly US$60bil (RM274.8bil) since the invasion of Ukraine, up from about US$35bil (RM159.3bil) a year ago.
A slowing economy constrained shipments of items from gas to copper, although crude purchases were a bright spot as refiners responded to the prospect of a surge in fuel exports after Beijing issued its biggest quota this year.Oil imports from Russia rose 16% to 7.72 million tonnes last month, a volume topped only by Saudi Arabia, according to Chinese customs data.
The increase comes as China’s refiners seek Beijing’s help to keep Russian cargo flowing after new sanctions are imposed early next month.From Dec 5, the European Union is set to ban the financing, insuring and shipping of Russian crude, which will force importers to find workarounds that don’t involve banks, insurance clubs and shipowners from the bloc
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