Russia reclaims status as the main oil supllier to China

Russian crude imports in China rose to an unprecedented level in May by registering an increase of 55 % compared to the same month last year, reports reports with reference to the data of the General Administration of Customs Administration of the Asian Giant.

In total, during the past month, Russian crude supplies by sea and through the Pacific Oriental-Opean Siberia pipeline reached 8.42 million tons or 1.98 million barrels per day. This figure represents an increase of 25 % compared to 1.59 million barrels per day supplied in April.

In this way, after 19 months, Russia became the largest supplier of China’s crude oil, replacing Saudi Arabia, which was second, with 7.82 million tons this May or 1.84 million barrels to the day.

According to Reuters, current figures show that Russia “is able to find buyers for their oil despite Western sanctions”, although it has to make sales at reduced prices.

In addition, Russian liquefied natural gas deliveries to 400,000 tons last month, 56 % more than in May 2021. In total, during the first five months of the year, these imports rose 22 % compared to the previous year , to reach 1.84 million tons.

On the other hand, the data released by the Chinese institution indicate that the Asian giant imported this May 260,000 tons of Iranian crude. These sales caused the US to increase their pressure on the oil sector of Iran and sanction a network of producers and companies, including several Chinese companies, for “supporting sales of Iranian petrochemical products.”