Reuters revealed that China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February. The move by the world’s biggest oil importer comes a month after it initially cut back on Russian supplies, for fear of appearing to openly support Moscow and potentially expose its state oil giants to sanctions.
The post Reuters reveals China quietly increases purchases of low-priced Russian oil appeared first on Reuters News Agency.