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14:10 25 Oct 2022

Last month, China received record amount of gas and steelmaking coal from russia

In September, the People's Republic of China imported record volumes of russian liquefied natural gas (LNG) and steelmaking coal from russia

Bloomberg writes about this with reference to data from Chinese customs.

The publication emphasized that the import of coal from russia in September increased to 2.5 million tons from approximately 900 thousand tons in September last year and 1.9 million tons in August.

And LNG sales increased by a third compared to last year and reached 819,000 tons.

At the same time, last month's crude oil import from the russian federation amounted to 7.5 million tons compared to 8.3 million tons in August and 6.1 million tons a year ago.

At the same time, Saudi Arabia overtook russia because it is the main supplier for China.

"Total purchases of russian energy resources, including petroleum products, slowed to $7.5 billion last month from a record $8.4 billion in August, although the figure is well above last year's $4.7 billion.

Thus, for seven months since the beginning of the full-scale war in Ukraine, the total amount is more than 51 billion dollars.

In 2021, China purchased energy carriers from russia for $30 billion during the same period," Bloomberg reports.

Although the global spike has inflated the cost of imports in energy prices caused by the war, China is still taking more volumes from russia, sometimes at discounted rates.

moscow, for its part, must find a place for exports that most of the rest of the world shuns as punishment for invading Ukraine.

We want to remind you that the EU package of oil sanctions should enter into force on December 5.

 

Category:
Economics

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