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Some China Refineries Buy Russian Oil Very Cheaply – FT

The secretive deals put the spotlight on how importers keep off established routes to buy Russian oil at cheap rates


Crude oil storage facilities
China is a big buyer of Russian oil and gas. Exports to Russia dropped in April, but imports have shot up, the latest data shows. Photo: Reuters.

 

Some Chinese refineries have been surreptitiously buying up oil from Russia at massive discounts while avoiding attention and sanctions from the West, the Financial Times reported.

The secretive deals put the spotlight on how importers keep off established routes to buy Russian oil at cheap rates even as Western countries mount sanctions on Moscow over its invasion of Ukraine.

 

Read the full report: Financial Times.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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