Russia becomes China’s top oil supplier amid Ukraine war sanctions

China’s crude oil imports from Russia soared by 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the east Siberia Pacific pipeline and seaborne shipments, totalled nearly 8.42m tonnes, according to data on Monday from the Chinese general administration of customs. The shipments are equivalent to almost 2m barrels per day (bpd) and up a quarter from…

Ukraine war: Russia becomes China’s biggest oil supplier

Meanwhile, Ukraine’s Trade Representative has a stark warning for those who choose to buy more from Russia. Taras Kachka told the BBC that that Moscow would “weaponise anything”, use their dependency as a means to manipulate and hold countries to ransom. But as they chase a (relative) bargain at a challenging time, that warning is that those taking their custom to Russia may be loath to heed. BBC