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PANDARA55
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How much does China buy Russian oil? imports surpassed Saudi Arabia.

https://www.img.in.th/images/c1b3a710bab0ad83fb61f5ab924c8c87.jpg

Chinese oil import numbersxoin May Russia has become the largest oil exporter to China. Replaced Saudi Arabia after a huge price reduction to China

On June 21, 2022, the BBC reported that China's oil imports: In May, China increased its oil imports from Russia by 55% compared to a year earlier.



Data from China's General Customs Administration shows that in May, Russia passed oil through the East Siberian-Pacific oil pipeline. and transported by ship to China, amounting to almost 8.42 million tons, surpassing Saudi Arabia. The largest crude oil exporter to China which was exported to China in May 7.82 million tons

Several Chinese oil companies, including Chinese government-run refineries Sinopec and Zhenhua Oil, They have increased their crude oil imports from Russia in the past few months after Russia cut sales prices. The timing of oil buyers in Europe and the United States not importing oil from Russia

Bloomberg said the amount China spent to buy the Russian oil was $7.47 billion, or about 26 billion baht, up $1 billion, or about 35 billion baht from April. and doubled as compared to the previous year.

The number of Russian oil tankers entering China has increased. After the demand for oil in the country that used to decline during the tightening control of the coronavirus began to ease. and industrial production began to return

when including the value of Chinese imports of Russian goods That includes coal, copper, nickel, aluminum, palladium, wheat, etc. in May this year, up 80% from the previous year, to a value of 10,270 million dollars, or about 360 billion baht.


In addition to Russia, in May, China also imported a third round of crude oil from Iran, about 260,000 tonnes, following the start of imports from December 2021, indicating that China is still buying oil from Iran, a nation that US economic sanctions

In March, both the United States and the United Kingdom announced that it would ban the import of Russian oil. As the European Union continues to reduce its dependence on Russian gas. According to President Joe Biden of the United States, in order to aim to manage “With the lifeblood that feeds the Russian economy”

However, such actions are likely to affect European consumers themselves.

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