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China is importing more oil from Russia than ever before


According to data from the customs authority in Beijing, Moscow delivered almost 8.42 million tons of crude oil in May. That is about a quarter more than in April and 55 percent more than a year earlier. This means that Russia has once again become the largest oil supplier in the People's Republic. Chinese companies benefited from sharp price reductions after western oil companies and trading houses withdrew from the Russian market because of sanctions related to the war in Ukraine.

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