Customs data showed on Monday that Russia has become China‘s biggest supplier of oil. This has happened amid the Russia-Ukraine war. China’s imports of oil from the country rose 55 percent in May, displacing Saudi Arabia as China’s biggest provider. In May, China imported around 8.42 million tonnes of oil from Russia.
Unlike the West, Beijing has been reluctant to condemn Moscow’s war. In February this year, China and Russia declared their friendship had “no limits”. Moreover, Chinese President Xi Jinping assured his Russian counterpart Vladimir Putin that Beijing will support Moscow’s “sovereignty and security”.
What equation do other countries have with Russia?
Western countries imposed economic sanctions on Russia in the aftermath of the country’s invasion of Ukraine. It caused a massive impact on imports and exports; including disturbances in supply chain issues. The customs data comes four months into the war, with other buyers avoiding Russian energy imports.
Meanwhile, Chinese companies such as Sinopec and Zhenhua Oil, have increased their purchases of Russian crude in recent months. This is because they are getting heavy discounts. According to figures from the Customs Administration, the number was also a spike; from the 5.44 million tonnes China imported from Russia in May 2021. Earlier this month, Chinese state media said Beijing was willing to “intensify strategic coordination between the two countries”. As per the Kremlin, the two leaders had agreed to ramp up economic cooperation in the face of “unlawful” Western sanctions.
