Friday, April 19, 2024

Russian oil imports to China swell amid Moscow’s gas fight with EU

Data from Chinese customs on Monday, said that Russian oil imports increased 55 per cent year-on-year in May, to about 8.4 million tons.

• June 20, 2022
Russia's Oil and Chinese flag
Russia’s Oil and Chinese flag used to illustrate the story

Chinese oil imports from Russia surged in May as Moscow sought new customers amid Western sanctions on many of its products because of its ongoing invasion of neighbouring Ukraine.

Data from Chinese customs on Monday, said that Russian oil imports increased 55 per cent year-on-year in May, to about 8.4 million tons.

That was also a month-on-month increase, when China’s importation of 6.6 million tons of oil in April from Russia is calculated. 

However, that put Russia in place as China’s top oil provider for the first time in a year and a half.

Meanwhile, Saudi Arabia only exported 7.8 million tons to China in May.

The shift to China comes weeks after the EU agreed to limit Russian oil imports and amid a fight about Russian gas deliveries.

European officials say that Russia is cutting off the flow of gas to punish countries that have supported sanctions levied to punish Russia for the invasion.

So far, the sanctions have left Russian gas exports untouched.

Russia had already stopped the flow to some countries for their refusal to pay in roubles, which Russia wanted to prop up its currency.

Last week, Russia more than halved the amount of gas flowing through a key pipeline to Germany.

Russia argues that the cut is not punishment, but the result of technical problems because of a missing turbine it needs for repairs.

“Russia remains a maximally reliable supplier. This is a man-made crisis that was created by the EU,” said Kremlin spokesperson, Dmitry Peskov, in comments carried by the Interfax news agency.

(dpa/NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Super Eagles

Sport

Nigerian fans engage in ‘foreign vs local’ coach debate as NFF prepares to name new Super Eagles manager

They hope the NFF will consider a local coach to limit financial burdens rather than opting for a foreigner at a higher cost.

Chief of Army Staff, Taoreed Lagbaja

NationWide

Soldiers will stop at nothing to kill criminals in Nigeria, army chief declares

“I wish to warn criminal elements in our society that the Nigerian Army will stop at nothing to neutralise them,” he said.

NIGERIANS WORKING IN CHINESE FACTORY

Rights

About one million people in forced labour in Nigeria, National Bureau of Statistics reveals

“While 36.9 per cent of individuals in forced labour in their current job are found in the service sector, other than domestic work,” said the report.

NIGERIAN-MADE VEHICLES

Economy

FG asks stakeholders to manufacture, export Nigerian-made vehicles

The minister said the government was doing all necessary to ensure this was achieved, thus requiring stakeholders also to play their role.

ESN OPERATIVES AND NIGERIAN SOLDIERS

States

One soldier killed, two wounded in gunfight with IPOB/ESN militants in Okija: Army

“The bravery and dedication of our troops in the face of danger are testimonies of their unwavering commitment to protecting the people and communities,” said the army.

BIDEN; HAMAS

World

U.S. vetoes Palestine’s request for full UN membership

The Security Council on Thursday rejected Palestine’s request for UN membership, with the United States casting a veto.