China is now importing more Russian oil than ever before - and Europe has almost entirely stopped buying crude from Moscow
Russia's invasion of Ukraine has reshaped global energy markets since February 2022, with China emerging as a top trade partner to Moscow and Western nations distancing themselves from the warring nation.Tuesday show.
China — as well as India — has been able to buy barrels at a discount from Moscow, and much of the purchases can be traced to private refiners. The 400,000-barrel-a-day refinery, Hengli Petrochemical, for example, took in its first Urals crude shipment of 730,000 barrels in early May, per Reuters.
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